Nutanix (NASDAQ:NTNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nutanix (NASDAQ:NTNX) have earned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.8667.

A number of research analysts have issued reports on NTNX shares. Royal Bank Of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Nutanix in a report on Wednesday, April 8th. Piper Sandler cut their price objective on Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. William Blair reissued a “market perform” rating on shares of Nutanix in a report on Monday, March 23rd. Rosenblatt Securities started coverage on Nutanix in a report on Thursday, April 2nd. They set a “buy” rating and a $60.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on Nutanix from $57.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Michigan Retirement System lifted its holdings in shares of Nutanix by 1.7% during the first quarter. State of Michigan Retirement System now owns 65,100 shares of the technology company’s stock valued at $2,474,000 after acquiring an additional 1,100 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Nutanix by 4.0% during the first quarter. Principal Financial Group Inc. now owns 604,657 shares of the technology company’s stock valued at $22,983,000 after acquiring an additional 23,131 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Nutanix by 7.2% during the first quarter. Chicago Partners Investment Group LLC now owns 16,743 shares of the technology company’s stock valued at $694,000 after acquiring an additional 1,131 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Nutanix by 5.8% during the first quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock valued at $179,000 after acquiring an additional 259 shares during the period. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Nutanix by 11.7% in the first quarter. 180 Wealth Advisors LLC now owns 11,953 shares of the technology company’s stock valued at $454,000 after buying an additional 1,251 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

Nutanix Price Performance

NTNX opened at $43.74 on Tuesday. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $83.36. The firm’s fifty day moving average price is $39.48 and its two-hundred day moving average price is $48.40. The company has a market capitalization of $11.60 billion, a P/E ratio of 47.54, a P/E/G ratio of 4.76 and a beta of 0.54.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts expect that Nutanix will post 0.56 EPS for the current fiscal 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.