Nutanix (NASDAQ:NTNX) Hits New 52-Week Low – Here’s Why

Nutanix (NASDAQ:NTNX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $41.15 and last traded at $41.24, with a volume of 3160323 shares traded. The stock had previously closed at $43.37.

Analysts Set New Price Targets

A number of research firms have weighed in on NTNX. JPMorgan Chase & Co. decreased their price target on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. The Goldman Sachs Group decreased their price target on Nutanix from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Royal Bank Of Canada decreased their price objective on shares of Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Nutanix Price Performance

The stock has a market cap of $10.71 billion, a P/E ratio of 53.03, a price-to-earnings-growth ratio of 4.46 and a beta of 0.49. The stock’s 50 day simple moving average is $49.15 and its two-hundred day simple moving average is $63.68.

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

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently modified their holdings of NTNX. Earned Wealth Advisors LLC lifted its holdings in shares of Nutanix by 3.8% in the second quarter. Earned Wealth Advisors LLC now owns 3,915 shares of the technology company’s stock worth $299,000 after acquiring an additional 142 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Nutanix by 6.4% in the second quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock worth $188,000 after purchasing an additional 148 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Nutanix by 42.6% in the second quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Simmons Bank increased its holdings in Nutanix by 2.1% in the second quarter. Simmons Bank now owns 7,295 shares of the technology company’s stock valued at $558,000 after purchasing an additional 150 shares during the period. Finally, Crestwood Advisors Group LLC raised its position in Nutanix by 0.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock worth $3,236,000 after purchasing an additional 161 shares during 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.