Wall Street Zen Downgrades Nutanix (NASDAQ:NTNX) to Hold

Nutanix (NASDAQ:NTNX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company reduced their target price on Nutanix from $57.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Morgan Stanley dropped their price target on Nutanix from $62.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Oppenheimer initiated coverage on Nutanix in a report on Monday, November 17th. They set an “outperform” rating and a $90.00 price objective on the stock. KeyCorp reduced their price objective on shares of Nutanix from $95.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, Piper Sandler decreased their target price on shares of Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.43.

Nutanix Stock Performance

Nutanix stock opened at $39.73 on Tuesday. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 3.53 and a beta of 0.49. Nutanix has a 1 year low of $35.39 and a 1 year high of $83.36. The firm’s 50 day moving average price is $43.65 and its two-hundred day moving average price is $57.37.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Nutanix by 67.3% during the second quarter. Dynamic Technology Lab Private Ltd now owns 29,017 shares of the technology company’s stock worth $2,218,000 after purchasing an additional 11,670 shares during the period. Norges Bank acquired a new position in Nutanix in the 2nd quarter valued at approximately $263,938,000. Swiss National Bank increased its stake in Nutanix by 6.7% in the 2nd quarter. Swiss National Bank now owns 766,300 shares of the technology company’s stock valued at $58,576,000 after buying an additional 48,400 shares during the period. Prudential Financial Inc. lifted its position in Nutanix by 1,069.5% in the 2nd quarter. Prudential Financial Inc. now owns 222,472 shares of the technology company’s stock worth $15,560,000 after buying an additional 203,449 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Nutanix by 19.1% in the 2nd 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 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.