Zacks Research upgraded shares of Nutanix (NASDAQ:NTNX – Free Report) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.
A number of other research firms have also commented on NTNX. JPMorgan Chase & Co. lifted their price target 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Nutanix in a report on Friday, May 29th. Needham & Company LLC raised their target price on shares of Nutanix from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. KeyCorp reiterated an “overweight” rating on shares of Nutanix in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Nutanix from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.00.
View Our Latest Research Report on NTNX
Nutanix Stock Performance
Nutanix (NASDAQ:NTNX – Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 $703.07 million for the quarter, compared to the consensus estimate of $686.34 million. During the same period last year, the business earned $0.22 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that Nutanix will post 0.71 earnings per share for the current year.
Hedge Funds Weigh In On Nutanix
Several large investors have recently bought and sold shares of the stock. Katamaran Capital LLP increased its holdings in shares of Nutanix by 270.0% during the 4th quarter. Katamaran Capital LLP now owns 86,094 shares of the technology company’s stock worth $4,450,000 after purchasing an additional 62,825 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Nutanix during the fourth quarter worth about $1,800,000. Azzad Asset Management Inc. ADV grew its position in Nutanix by 39.5% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 48,698 shares of the technology company’s stock worth $2,517,000 after buying an additional 13,789 shares in the last quarter. Peregrine Capital Management LLC increased its stake in Nutanix by 18.5% during the fourth quarter. Peregrine Capital Management LLC now owns 183,568 shares of the technology company’s stock valued at $9,489,000 after acquiring an additional 28,677 shares during the period. Finally, BW Gestao de Investimentos Ltda. increased its stake in Nutanix by 19.1% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 663,074 shares of the technology company’s stock valued at $34,274,000 after acquiring an additional 106,420 shares during the period. 85.25% of the stock is currently 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.
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