Nutanix (NASDAQ:NTNX) Stock Rating Upgraded by UBS Group

Nutanix (NASDAQ:NTNX) was upgraded by analysts at UBS Group to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 price objective (down previously from $88.00) on shares of Nutanix in a report on Wednesday, November 26th. Needham & Company LLC decreased their price objective on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Wall Street Zen cut Nutanix from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. JPMorgan Chase & Co. decreased their price target on Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, Wells Fargo & Company cut their price objective on Nutanix from $71.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.80.

Nutanix Trading Up 0.7%

Shares of NASDAQ:NTNX opened at $41.88 on Monday. The firm’s 50 day moving average is $47.25 and its two-hundred day moving average is $61.58. The firm has a market capitalization of $11.32 billion, a P/E ratio of 55.84, a PEG ratio of 4.44 and a beta of 0.48. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $670.58 million during the quarter, compared to analyst estimates of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The business’s revenue for the quarter 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. Analysts predict that Nutanix will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Nutanix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its stake in shares of Nutanix by 67.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,017 shares of the technology company’s stock valued at $2,218,000 after acquiring an additional 11,670 shares in the last quarter. Norges Bank bought a new position in shares of Nutanix in the second quarter valued at approximately $263,938,000. Swiss National Bank raised its position in shares of Nutanix by 6.7% in the second quarter. Swiss National Bank now owns 766,300 shares of the technology company’s stock valued at $58,576,000 after purchasing an additional 48,400 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Nutanix by 1,069.5% during the 2nd quarter. Prudential Financial Inc. now owns 222,472 shares of the technology company’s stock worth $15,560,000 after buying an additional 203,449 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Nutanix by 19.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,190,376 shares of the technology company’s stock worth $90,992,000 after acquiring an additional 191,314 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.