Nutanix (NASDAQ:NTNX) Sets New 1-Year High After Analyst Upgrade

Nutanix, Inc. (NASDAQ:NTNX) shares reached a new 52-week high during mid-day trading on Friday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $36.50 and last traded at $35.60, with a volume of 2447775 shares. The stock had previously closed at $31.10.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley lifted their target price on Nutanix from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday. Piper Sandler lifted their target price on Nutanix from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company lifted their target price on Nutanix from $32.00 to $35.00 in a research note on Friday, May 26th. JMP Securities restated a “market outperform” rating and issued a $35.00 price objective on shares of Nutanix in a research note on Friday. Finally, Bank of America boosted their price objective on Nutanix from $34.00 to $39.00 in a research note on Friday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.69.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NTNX. First Trust Advisors LP grew its holdings in shares of Nutanix by 178.9% during the fourth quarter. First Trust Advisors LP now owns 6,028,318 shares of the technology company’s stock worth $156,970,000 after purchasing an additional 3,866,565 shares in the last quarter. Norges Bank purchased a new position in shares of Nutanix during the fourth quarter worth about $62,421,000. Champlain Investment Partners LLC grew its holdings in shares of Nutanix by 39.5% during the first quarter. Champlain Investment Partners LLC now owns 7,560,281 shares of the technology company’s stock worth $196,492,000 after purchasing an additional 2,141,125 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Nutanix by 5.0% during the first quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock worth $626,094,000 after purchasing an additional 1,116,856 shares in the last quarter. Finally, Generation Investment Management LLP grew its holdings in shares of Nutanix by 4.8% during the fourth quarter. Generation Investment Management LLP now owns 22,080,454 shares of the technology company’s stock worth $575,196,000 after purchasing an additional 1,019,395 shares in the last quarter. Hedge funds and other institutional investors own 78.74% of the company’s stock.

Nutanix Price Performance

The company has a market cap of $8.23 billion, a PE ratio of -19.83 and a beta of 1.32. The company has a fifty day moving average price of $29.46 and a 200 day moving average price of $27.59.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.