Rosenblatt Securities Begins Coverage on Nutanix (NASDAQ:NTNX)

Research analysts at Rosenblatt Securities began coverage on shares of Nutanix (NASDAQ:NTNX) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $60.00 price target on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 57.73% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Royal Bank Of Canada set a $55.00 price objective on shares of Nutanix in a report on Wednesday, February 11th. The Goldman Sachs Group reduced their target price on Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Bank of America dropped their price target on Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Barclays cut their price objective on Nutanix from $53.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research report on Friday, March 27th. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.27.

Nutanix Trading Up 0.1%

Shares of NASDAQ NTNX opened at $38.04 on Thursday. The business has a 50-day moving average of $40.02 and a 200-day moving average of $53.70. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 4.07 and a beta of 0.52. Nutanix has a 12 month low of $35.39 and a 12 month high of $83.36.

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

Institutional Trading of Nutanix

Several hedge funds have recently added to or reduced their stakes in NTNX. Crestwood Advisors Group LLC boosted its position in Nutanix by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock valued at $3,236,000 after buying an additional 161 shares during the period. OFI Invest Asset Management lifted its stake in shares of Nutanix by 14.9% in the 3rd quarter. OFI Invest Asset Management now owns 1,696 shares of the technology company’s stock valued at $126,000 after acquiring an additional 220 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Nutanix by 18.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,453 shares of the technology company’s stock valued at $111,000 after acquiring an additional 224 shares during the last quarter. CWC Advisors LLC. boosted its holdings in Nutanix by 4.3% during the 3rd quarter. CWC Advisors LLC. now owns 5,636 shares of the technology company’s stock valued at $419,000 after acquiring an additional 234 shares during the period. Finally, Utah Retirement Systems boosted its holdings in Nutanix by 0.6% during the 4th quarter. Utah Retirement Systems now owns 42,355 shares of the technology company’s stock valued at $2,189,000 after acquiring an additional 257 shares during the period. 85.25% of the stock is owned by institutional investors.

About Nutanix

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.