Nutanix (NASDAQ:NTNX) Receives Buy Rating from Rosenblatt Securities

Nutanix (NASDAQ:NTNXGet Free Report)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $60.00 price target on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 22.93% from the stock’s current price.

A number of other research firms also recently issued reports on NTNX. UBS Group lifted their price target on shares of Nutanix from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America lifted their price target on shares of Nutanix from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (down from $63.00) on shares of Nutanix in a research report on Thursday. Royal Bank Of Canada lifted their price target on shares of Nutanix from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, KeyCorp reiterated an “overweight” rating on shares of Nutanix in a research report on Thursday. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

View Our Latest Research Report on NTNX

Nutanix Price Performance

NTNX opened at $48.81 on Friday. The business has a 50 day simple moving average of $41.79 and a 200-day simple moving average of $45.45. The stock has a market capitalization of $12.94 billion, a P/E ratio of 51.38, a P/E/G ratio of 5.20 and a beta of 0.54. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42.

Nutanix (NASDAQ:NTNXGet Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 38.88% and a net margin of 10.03%.The business had revenue of $703.07 million during the quarter, compared to analysts’ expectations of $686.34 million. During the same period last year, the firm earned $0.22 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Nutanix will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Nutanix by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 27,514,943 shares of the technology company’s stock worth $1,422,247,000 after purchasing an additional 832,468 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Nutanix by 72.8% during the 4th quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock worth $591,991,000 after purchasing an additional 4,826,443 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nutanix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,283,964 shares of the technology company’s stock worth $272,452,000 after purchasing an additional 135,533 shares during the last quarter. FIL Ltd raised its position in shares of Nutanix by 180.1% during the 4th quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock worth $224,021,000 after purchasing an additional 2,786,929 shares during the last quarter. Finally, First Trust Advisors LP raised its position 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 worth $188,528,000 after purchasing an additional 447,806 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Key Nutanix News

Here are the key news stories impacting Nutanix this week:

Nutanix Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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