Nutanix (NASDAQ:NTNX) Receives $67.13 Average Price Target from Analysts

Shares of Nutanix (NASDAQ:NTNX) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $67.1333.

A number of analysts have issued reports on NTNX shares. Royal Bank Of Canada set a $55.00 target price on Nutanix in a research report on Wednesday, February 11th. KeyCorp dropped their price objective on Nutanix from $95.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Wells Fargo & Company cut their price objective on Nutanix from $71.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 26th. JPMorgan Chase & Co. decreased their target price on Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, UBS Group set a $57.00 target price on Nutanix in a research report on Monday, February 9th.

Nutanix Trading Up 0.7%

Shares of NTNX opened at $41.22 on Thursday. The company’s 50-day moving average price is $46.52 and its 200 day moving average price is $60.27. Nutanix has a 12-month low of $35.39 and a 12-month high of $83.36. The firm has a market cap of $11.15 billion, a P/E ratio of 54.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.48.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The business had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. During the same period last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts forecast that Nutanix will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Nutanix

Large investors have recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new position in shares of Nutanix in the fourth quarter worth $28,000. SJS Investment Consulting Inc. raised its stake in shares of Nutanix by 3,122.7% in the third quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock valued at $53,000 after acquiring an additional 687 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Nutanix by 33.0% in the second quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock valued at $57,000 after purchasing an additional 186 shares during the period. V Square Quantitative Management LLC acquired a new position in Nutanix during the 4th quarter worth $39,000. Finally, Covestor Ltd increased its holdings in Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.