Barclays Reaffirms Equal Weight Rating for Nutanix (NASDAQ:NTNX)

Nutanix (NASDAQ:NTNX)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Barclays in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $53.00 price objective on the technology company’s stock, down from their previous price objective of $64.00. Barclays‘s price objective would suggest a potential upside of 8.90% from the company’s current price.

NTNX has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research report on Monday, December 29th. Zacks Research cut shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada reduced their price target on shares of Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Needham & Company LLC decreased their price objective on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, Northland Securities lowered their price objective on shares of Nutanix from $76.00 to $53.00 and set a “market perform” rating for the company in a research report on Wednesday, November 26th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Nutanix Price Performance

Nutanix stock opened at $48.67 on Thursday. The firm has a market cap of $13.16 billion, a PE ratio of 64.89, a price-to-earnings-growth ratio of 5.47 and a beta of 0.49. The stock’s fifty day moving average price is $53.76 and its two-hundred day moving average price is $65.96. Nutanix has a one year low of $46.12 and a one year high of $83.36.

Nutanix (NASDAQ:NTNX) last released its earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $670.58 million during the quarter, compared to the consensus estimate of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Sell-side analysts expect that Nutanix will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Nutanix

A number of hedge funds have recently added to or reduced their stakes in NTNX. Farther Finance Advisors LLC increased its holdings in shares of Nutanix by 42.6% during the second quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Nutanix during the 2nd quarter valued at $45,000. SJS Investment Consulting Inc. boosted its holdings in shares of Nutanix by 3,122.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock valued at $53,000 after acquiring an additional 687 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in Nutanix by 33.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock worth $57,000 after acquiring an additional 186 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in Nutanix in the 3rd quarter worth about $68,000. 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.