Nutanix’s (NTNX) “Market Perform” Rating Reiterated at William Blair

Nutanix (NASDAQ:NTNX)‘s stock had its “market perform” rating restated by analysts at William Blair in a research note issued to investors on Monday.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reduced their price target on Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. UBS Group upped their target price on shares of Nutanix from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Bank of America reduced their price target on Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Northland Securities lowered their price objective on shares of Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 26th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.43.

Nutanix Price Performance

Shares of NTNX opened at $39.48 on Monday. Nutanix has a one year low of $35.39 and a one year high of $83.36. The company has a 50-day simple moving average of $41.47 and a two-hundred day simple moving average of $55.60. The firm has a market capitalization of $10.47 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 4.22 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The firm had revenue of $722.83 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutanix

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Nutanix by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 27,514,943 shares of the technology company’s stock valued at $1,422,247,000 after buying an additional 832,468 shares during the last quarter. AQR Capital Management LLC boosted its stake in Nutanix by 72.8% during the 4th quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock worth $591,991,000 after purchasing an additional 4,826,443 shares during the period. Geode Capital Management LLC grew its position in Nutanix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,283,964 shares of the technology company’s stock worth $272,452,000 after purchasing an additional 135,533 shares during the last quarter. FIL Ltd increased its stake in Nutanix by 180.1% in the fourth quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock valued at $224,021,000 after purchasing an additional 2,786,929 shares during the period. Finally, First Trust Advisors LP increased its stake in Nutanix by 14.0% in the fourth quarter. First Trust Advisors LP now owns 3,647,276 shares of the technology company’s stock valued at $188,528,000 after purchasing an additional 447,806 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.