Nutanix (NASDAQ:NTNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nutanix (NASDAQ:NTNX) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $71.0667.

Several equities research analysts have weighed in on NTNX shares. Royal Bank Of Canada cut their target price on shares of Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Wall Street Zen cut Nutanix from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America dropped their target price on Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. The Goldman Sachs Group lowered their price objective on Nutanix from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Finally, KeyCorp cut their target price on Nutanix from $95.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th.

Nutanix Stock Down 6.0%

Shares of NTNX stock opened at $45.74 on Friday. The company has a market cap of $12.37 billion, a PE ratio of 60.99, a price-to-earnings-growth ratio of 4.86 and a beta of 0.49. Nutanix has a 12 month low of $45.70 and a 12 month high of $83.36. The business’s 50 day moving average is $53.28 and its two-hundred day moving average is $65.68.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $670.58 million for the quarter, compared to analyst estimates of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.Nutanix’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

Institutional Trading of Nutanix

A number of large investors have recently bought and sold shares of NTNX. Dynamic Technology Lab Private Ltd grew its position in shares of Nutanix by 67.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,017 shares of the technology company’s stock valued at $2,218,000 after acquiring an additional 11,670 shares during the period. Norges Bank bought a new stake in Nutanix during the 2nd quarter valued at $263,938,000. Swiss National Bank raised its stake in shares of Nutanix by 6.7% during the 2nd quarter. Swiss National Bank now owns 766,300 shares of the technology company’s stock valued at $58,576,000 after purchasing an additional 48,400 shares during the period. Prudential Financial Inc. grew its stake in Nutanix by 1,069.5% during the second quarter. Prudential Financial Inc. now owns 222,472 shares of the technology company’s stock valued at $15,560,000 after acquiring an additional 203,449 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Nutanix by 19.1% in the second quarter. Schroder Investment Management Group now owns 1,190,376 shares of the technology company’s stock worth $90,992,000 after buying an additional 191,314 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

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.