Nutanix (NASDAQ:NTNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nutanix (NASDAQ:NTNX) from a hold rating to a buy rating in a report issued on Saturday morning.

NTNX has been the subject of a number of other research reports. UBS Group set a $57.00 price objective on Nutanix in a research report on Monday, February 9th. Morgan Stanley set a $62.00 price target on shares of Nutanix in a research note on Monday, January 12th. Piper Sandler reissued an “overweight” rating and issued a $72.00 price objective (down previously from $88.00) on shares of Nutanix in a research report on Wednesday, November 26th. JPMorgan Chase & Co. reduced their price objective on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Finally, Zacks Research cut shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.13.

Nutanix Trading Up 1.5%

Shares of NASDAQ NTNX opened at $41.76 on Friday. The company’s 50-day moving average price is $46.78 and its 200 day moving average price is $60.63. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 4.49 and a beta of 0.48.

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

Institutional Trading of Nutanix

A number of institutional investors have recently added to or reduced their stakes in the business. New Millennium Group LLC purchased a new position in Nutanix in the fourth quarter valued at about $28,000. SJS Investment Consulting Inc. grew its stake in shares of Nutanix by 3,122.7% in the third quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock valued at $53,000 after buying an additional 687 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Nutanix by 33.0% in the second quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock valued at $57,000 after buying an additional 186 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Nutanix during the 4th quarter valued at about $39,000. Finally, Covestor Ltd lifted its position in Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after acquiring an additional 324 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.