Nutanix (NASDAQ:NTNX) Sets New 1-Year Low – Time to Sell?

Nutanix (NASDAQ:NTNX)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $38.25 and last traded at $38.0640, with a volume of 177410 shares. The stock had previously closed at $40.10.

Analyst Ratings Changes

A number of brokerages have issued reports on NTNX. KeyCorp cut their target price on Nutanix from $95.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. The Goldman Sachs Group dropped their price target on shares of Nutanix from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Zacks Research lowered 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 objective on shares of Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Nutanix Stock Down 1.9%

The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 3.93 and a beta of 0.48. The company’s 50-day moving average price is $47.80 and its 200-day moving average price is $62.62.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The business had revenue of $670.58 million for the quarter, compared to analysts’ expectations of $677.23 million. During the same period last year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, sell-side analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Nutanix

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of Nutanix by 42.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Nutanix by 3.1% during the second quarter. Janney Montgomery Scott LLC now owns 40,450 shares of the technology company’s stock worth $3,092,000 after purchasing an additional 1,201 shares during the last quarter. Truist Financial Corp purchased a new position in Nutanix during the second quarter worth about $232,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nutanix by 620.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,800 shares of the technology company’s stock worth $367,000 after buying an additional 4,134 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in Nutanix in the second quarter valued at $205,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.