Nutanix (NASDAQ:NTNX) Upgraded by Wall Street Zen to “Buy” Rating

Nutanix (NASDAQ:NTNX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

NTNX has been the topic of a number of other reports. Zacks Research lowered Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. KeyCorp dropped their price target on Nutanix from $95.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Morgan Stanley set a $62.00 price objective on Nutanix in a report on Monday, January 12th. Royal Bank Of Canada set a $55.00 price objective on shares of Nutanix in a research note on Wednesday. Finally, Bank of America dropped their target price on shares of Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nutanix has an average rating of “Moderate Buy” and an average price target of $67.13.

Nutanix Price Performance

NTNX stock opened at $41.76 on Friday. The firm has a market cap of $11.29 billion, a PE ratio of 55.68, a P/E/G ratio of 4.39 and a beta of 0.48. Nutanix has a 12 month low of $35.39 and a 12 month high of $83.36. The firm has a 50 day simple moving average of $46.90 and a 200 day simple moving average of $61.07.

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

Hedge Funds Weigh In On Nutanix

Several institutional investors and hedge funds have recently bought and sold shares of NTNX. Quinn Opportunity Partners LLC purchased a new stake in shares of Nutanix in the fourth quarter worth approximately $517,000. Commerce Bank increased its stake in Nutanix by 6.0% in the 4th quarter. Commerce Bank now owns 19,691 shares of the technology company’s stock valued at $1,018,000 after buying an additional 1,116 shares during the period. Bank of Nova Scotia lifted its position in Nutanix by 296.6% in the 4th quarter. Bank of Nova Scotia now owns 180,792 shares of the technology company’s stock worth $9,345,000 after buying an additional 135,208 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Nutanix by 12.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,111,566 shares of the technology company’s stock valued at $109,147,000 after buying an additional 227,696 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Nutanix by 14.0% during the 4th quarter. First Trust Advisors LP now owns 3,647,276 shares of the technology company’s stock valued at $188,528,000 after acquiring an additional 447,806 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

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.