Nutanix (NASDAQ:NTNX) Upgraded at UBS Group

UBS Group upgraded shares of Nutanix (NASDAQ:NTNX) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

NTNX has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Wells Fargo & Company dropped their target price on shares of Nutanix from $71.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 26th. Royal Bank Of Canada reduced their price target on shares of Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Needham & Company LLC dropped their price objective on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.13.

Nutanix Stock Performance

Shares of NTNX opened at $41.43 on Monday. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 55.24, a price-to-earnings-growth ratio of 4.47 and a beta of 0.48. Nutanix has a fifty-two week low of $35.39 and a fifty-two week high of $83.36. The firm has a 50-day simple moving average of $47.13 and a 200-day simple moving average of $61.44.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Equities research analysts forecast that Nutanix will post 0.31 EPS for the current year.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New Millennium Group LLC bought a new position in shares of Nutanix in the 4th quarter valued at about $28,000. V Square Quantitative Management LLC bought a new position in Nutanix in the fourth quarter valued at approximately $39,000. Covestor Ltd increased its position in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Nutanix by 159.4% during the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after purchasing an additional 502 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Nutanix by 78.7% in the fourth quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after acquiring an additional 432 shares during 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.