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

Shares of Nutanix (NASDAQ:NTNX) have been assigned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $60.00.

NTNX has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price target on Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Royal Bank Of Canada increased their price target on Nutanix from $55.00 to $58.00 and gave the stock an “outperform” rating in a report 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, Wells Fargo & Company increased their price target on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Nutanix by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 27,514,943 shares of the technology company’s stock worth $1,422,247,000 after acquiring an additional 832,468 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Nutanix by 72.8% in the fourth quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock worth $591,991,000 after acquiring an additional 4,826,443 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nutanix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,283,964 shares of the technology company’s stock valued at $272,452,000 after purchasing an additional 135,533 shares in the last quarter. FIL Ltd lifted its holdings in shares of Nutanix by 180.1% in the fourth quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock valued at $224,021,000 after purchasing an additional 2,786,929 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Nutanix by 14.0% in the fourth quarter. First Trust Advisors LP now owns 3,647,276 shares of the technology company’s stock valued at $188,528,000 after purchasing an additional 447,806 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

Nutanix Price Performance

NASDAQ NTNX opened at $47.89 on Wednesday. The business has a 50 day simple moving average of $45.88 and a 200 day simple moving average of $44.46. Nutanix has a one year low of $34.01 and a one year high of $82.42. The stock has a market capitalization of $12.95 billion, a P/E ratio of 50.41, a P/E/G ratio of 4.11 and a beta of 0.62.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The business had revenue of $364.94 million during the quarter, compared to analysts’ expectations of $686.34 million. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Nutanix will post 0.71 earnings per share for the current year.

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.