Nutanix (NASDAQ:NTNX – Get Free Report)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report issued on Friday,Benzinga reports. They currently have a $60.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 34.26% from the company’s current price.
A number of other research analysts have also recently commented on NTNX. Bank of America dropped their target price on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, February 26th. William Blair reiterated a “market perform” rating on shares of Nutanix in a report on Monday, March 23rd. The Goldman Sachs Group cut their target price on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $55.00 target price on shares of Nutanix in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $44.00 target price on shares of Nutanix in a research report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.87.
View Our Latest Stock Analysis on Nutanix
Nutanix Trading Down 0.8%
Nutanix (NASDAQ:NTNX – Get Free Report) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.12. The firm had revenue of $722.83 million during the quarter, compared to analysts’ expectations of $709.83 million. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, equities analysts predict that Nutanix will post 0.56 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. New Millennium Group LLC acquired a new position in shares of Nutanix in the 4th quarter worth approximately $28,000. Western Wealth Management LLC acquired a new position in shares of Nutanix in the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new position in shares of Nutanix in the 4th quarter worth approximately $39,000. Covestor Ltd lifted its position in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after purchasing an additional 502 shares during the period. 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.
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