Nutanix (NASDAQ:NTNX) Given Neutral Rating at JPMorgan Chase & Co.

Nutanix (NASDAQ:NTNX)‘s stock had its “neutral” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued on Friday,Benzinga reports. They currently have a $44.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 19.11% from the company’s current price.

Several other analysts have also commented on the company. Piper Sandler cut their price objective on Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a report on Friday, March 27th. Barclays cut their price target on Nutanix from $53.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Morgan Stanley cut their price target on Nutanix from $62.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Finally, Rosenblatt Securities started coverage on Nutanix in a report on Thursday, April 2nd. They set a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.87.

Nutanix Price Performance

Shares of NTNX opened at $36.94 on Friday. Nutanix has a one year low of $35.39 and a one year high of $83.36. The firm has a market capitalization of $9.80 billion, a P/E ratio of 40.15, a PEG ratio of 4.17 and a beta of 0.52. The business has a fifty day moving average of $39.74 and a 200 day moving average of $52.27.

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

Hedge Funds Weigh In On Nutanix

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Nutanix by 102.0% in the third quarter. Rhumbline Advisers now owns 868,143 shares of the technology company’s stock worth $64,581,000 after acquiring an additional 438,268 shares during the period. Vinva Investment Management Ltd boosted its stake in shares of Nutanix by 222.8% in the third quarter. Vinva Investment Management Ltd now owns 353,511 shares of the technology company’s stock worth $27,221,000 after acquiring an additional 244,006 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Nutanix by 1,734.6% in the third quarter. New York State Teachers Retirement System now owns 203,380 shares of the technology company’s stock worth $15,129,000 after acquiring an additional 192,294 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Nutanix by 674.7% in the third quarter. Thrivent Financial for Lutherans now owns 61,590 shares of the technology company’s stock worth $4,582,000 after acquiring an additional 53,640 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Nutanix by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,517,888 shares of the technology company’s stock worth $181,734,000 after acquiring an additional 653,042 shares during the period. Institutional investors own 85.25% of the company’s stock.

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.