Nutanix (NASDAQ:NTNX) Stock Rating Upgraded by Zacks Research

Nutanix (NASDAQ:NTNX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Nutanix from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Bank of America upped their price objective on shares of Nutanix from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Needham & Company LLC raised their price objective on Nutanix from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Nutanix in a research report on Thursday, May 28th. Finally, Piper Sandler reissued an “overweight” rating on shares of Nutanix in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Nutanix has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Nutanix Stock Up 3.9%

Shares of NTNX opened at $59.05 on Monday. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 62.16, a price-to-earnings-growth ratio of 5.01 and a beta of 0.61. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42. The stock has a 50 day moving average price of $51.34 and a 200 day moving average price of $44.99.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The company had revenue of $703.07 million for the quarter, compared to analysts’ expectations of $686.34 million. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities analysts anticipate that Nutanix will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently modified their holdings of NTNX. CoreCap Advisors LLC raised its position in Nutanix by 28.6% in the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company’s stock valued at $46,000 after purchasing an additional 200 shares during the last quarter. Utah Retirement Systems grew its position in Nutanix by 0.6% during the 4th quarter. Utah Retirement Systems now owns 42,355 shares of the technology company’s stock worth $2,189,000 after purchasing an additional 257 shares during the last quarter. International Assets Investment Management LLC increased its stake in Nutanix by 5.8% in the first quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock valued at $179,000 after purchasing an additional 259 shares during the period. Asset Management One Co. Ltd. increased its stake in Nutanix by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,016 shares of the technology company’s stock valued at $4,868,000 after purchasing an additional 260 shares during the period. Finally, CX Institutional raised its holdings in shares of Nutanix by 134.6% in the second quarter. CX Institutional now owns 488 shares of the technology company’s stock valued at $25,000 after buying an additional 280 shares during 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.