Nutanix (NASDAQ:NTNX) Given Average Rating of “Moderate Buy” by Brokerages

Nutanix (NASDAQ:NTNXGet Free Report) has been given an average rating of “Moderate Buy” by the nineteen research firms that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $60.8667.

Several brokerages recently weighed in on NTNX. Morgan Stanley reduced their price target on shares of Nutanix from $62.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 24th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $44.00 price target on shares of Nutanix in a research report on Friday, April 10th. Needham & Company LLC reduced their price objective on Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company lowered their price objective on Nutanix from $57.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Nutanix in a research note on Wednesday, April 8th.

View Our Latest Stock Report on NTNX

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTNX. AQR Capital Management LLC increased its position in Nutanix by 72.8% during the fourth quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock valued at $591,991,000 after acquiring an additional 4,826,443 shares during the last quarter. Norges Bank bought a new position in Nutanix during the fourth quarter valued at $187,169,000. FIL Ltd increased its position in Nutanix by 180.1% during the fourth quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock valued at $224,021,000 after acquiring an additional 2,786,929 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Nutanix by 926.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,687,387 shares of the technology company’s stock valued at $138,911,000 after acquiring an additional 2,425,665 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Nutanix by 592.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,601,351 shares of the technology company’s stock valued at $82,774,000 after buying an additional 1,370,047 shares during the period. Institutional investors own 85.25% of the company’s stock.

Nutanix Trading Up 0.0%

Shares of NTNX stock opened at $46.57 on Friday. Nutanix has a 12-month low of $34.01 and a 12-month high of $82.42. The stock’s 50-day moving average price is $41.65 and its 200-day moving average price is $45.59. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 5.20 and a beta of 0.54.

Nutanix (NASDAQ:NTNXGet Free Report) last issued its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The firm had revenue of $703.07 million for the quarter, compared to analysts’ expectations of $686.34 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Nutanix will post 0.56 EPS for the current fiscal year.

Key Nutanix News

Here are the key news stories impacting Nutanix this week:

Nutanix Company Profile

(Get Free Report)

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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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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