Nutanix (NASDAQ:NTNX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Nutanix (NASDAQ:NTNX) have earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $60.00.

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Nutanix from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. lifted their target price on 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 target on Nutanix from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. UBS Group increased their price target on Nutanix from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Northland Securities set a $47.00 price objective on shares of Nutanix in a report on Thursday, May 28th.

Institutional Investors Weigh In On Nutanix

A number of institutional investors and hedge funds have recently made changes to their positions in NTNX. CX Institutional boosted its position in shares of Nutanix by 134.6% during the 2nd quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after purchasing an additional 280 shares during the period. Western Wealth Management LLC purchased a new stake in Nutanix in the first quarter valued at approximately $27,000. New Millennium Group LLC purchased a new stake in Nutanix in the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in Nutanix during the fourth quarter worth $39,000. Finally, Covestor Ltd lifted its stake in Nutanix by 73.1% during the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Trading Up 0.5%

Nutanix stock opened at $64.65 on Thursday. The company has a 50-day moving average price of $54.05 and a 200 day moving average price of $46.02. Nutanix has a 12-month low of $34.01 and a 12-month high of $82.42. The stock has a market cap of $17.48 billion, a P/E ratio of 68.05, a PEG ratio of 4.26 and a beta of 0.60.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The company had revenue of $703.07 million for the quarter, compared to analyst estimates of $686.34 million. During the same period in the previous year, the business posted $0.22 EPS. Nutanix’s revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that Nutanix will post 0.71 EPS for the current 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.