Nutanix (NASDAQ:NTNX) Trading 7.1% Higher – Still a Buy?

Shares of Nutanix (NASDAQ:NTNX) rose 7.1% during mid-day trading on Thursday . The stock traded as high as $40.83 and last traded at $40.7540. Approximately 1,155,681 shares were traded during trading, a decline of 76% from the average daily volume of 4,765,604 shares. The stock had previously closed at $38.04.

Analyst Ratings Changes

Several research firms have recently commented on NTNX. Needham & Company LLC reduced their target price on Nutanix from $65.00 to $55.00 and set a “buy” rating for the company 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 company a “buy” rating in a research note on Thursday, February 26th. Morgan Stanley lowered their price objective on Nutanix from $62.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Wall Street Zen cut Nutanix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Barclays reduced their target price on Nutanix from $53.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Twelve equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.27.

Nutanix Trading Up 6.6%

The business’s 50-day moving average is $40.02 and its two-hundred day moving average is $53.70. The firm has a market cap of $10.76 billion, a P/E ratio of 44.09, a P/E/G ratio of 4.07 and a beta of 0.52.

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

Institutional Investors Weigh In On Nutanix

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