Nutanix (NASDAQ:NTNX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Nutanix (NASDAQ:NTNX) have earned a consensus rating of “Moderate Buy” from the twenty brokerages that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $62.2667.

Several analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a report on Friday, March 27th. William Blair reiterated a “market perform” rating on shares of Nutanix in a research report on Monday, March 23rd. Wall Street Zen downgraded Nutanix from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. The Goldman Sachs Group reduced their target price on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, Bank of America decreased their price target on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th.

Nutanix Stock Performance

Shares of NTNX opened at $41.10 on Friday. The firm has a market cap of $10.90 billion, a P/E ratio of 44.67, a price-to-earnings-growth ratio of 4.07 and a beta of 0.52. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36. The firm’s 50-day simple moving average is $39.98 and its 200 day simple moving average is $53.61.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The firm had revenue of $722.83 million during the quarter, compared to the consensus estimate of $709.83 million. During the same period last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Nutanix will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its position in shares of Nutanix by 18.2% in the second quarter. Advisors Asset Management Inc. now owns 1,453 shares of the technology company’s stock valued at $111,000 after buying an additional 224 shares in the last quarter. New York State Common Retirement Fund grew its position in Nutanix by 0.8% during the second quarter. New York State Common Retirement Fund now owns 131,000 shares of the technology company’s stock worth $10,014,000 after buying an additional 1,102 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Nutanix by 161.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 587,482 shares of the technology company’s stock worth $44,907,000 after acquiring an additional 362,812 shares during the period. Blueshift Asset Management LLC bought a new position in Nutanix during the 2nd quarter worth $240,000. Finally, Beacon Pointe Advisors LLC raised its holdings in Nutanix by 11.8% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 4,124 shares of the technology company’s stock valued at $315,000 after acquiring an additional 436 shares in the last quarter. Institutional investors and hedge funds 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.