Nutanix (NASDAQ:NTNX) Receives $67.13 Average Price Target from Brokerages

Nutanix (NASDAQ:NTNX) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $67.1333.

Several equities research analysts have weighed in on NTNX shares. Needham & Company LLC reduced their price objective on Nutanix from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Morgan Stanley set a $62.00 target price on shares of Nutanix in a research note on Monday, January 12th. Piper Sandler restated an “overweight” rating and issued a $72.00 price objective (down previously from $88.00) on shares of Nutanix in a report on Wednesday, November 26th. Northland Securities lowered their price objective on Nutanix from $76.00 to $53.00 and set a “market perform” rating for the company in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company decreased their price target 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.

Institutional Trading of Nutanix

Several large investors have recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in shares of Nutanix during the 4th quarter valued at about $28,000. SJS Investment Consulting Inc. boosted its stake in Nutanix by 3,122.7% in the third quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock valued at $53,000 after acquiring an additional 687 shares during the period. Itau Unibanco Holding S.A. grew its holdings in shares of Nutanix by 33.0% during the second quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock valued at $57,000 after purchasing an additional 186 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $39,000. Finally, Covestor Ltd raised 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 period. Institutional investors and hedge funds own 85.25% of the company’s stock.

Nutanix Stock Performance

NASDAQ:NTNX opened at $41.76 on Thursday. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36. The firm has a 50-day moving average price of $46.90 and a two-hundred day moving average price of $60.97. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 55.68, a price-to-earnings-growth ratio of 4.46 and a beta of 0.48.

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

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.