Nutanix (NASDAQ:NTNX) Rating Lowered to “Hold” at Wall Street Zen

Nutanix (NASDAQ:NTNX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other research firms also recently commented on NTNX. Northland Securities dropped their price objective on Nutanix from $76.00 to $53.00 and set a “market perform” rating for the company in a report on Wednesday, November 26th. JPMorgan Chase & Co. reduced their target price on Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Wells Fargo & Company decreased their target price on Nutanix from $57.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Oppenheimer assumed coverage on Nutanix in a research note on Monday, November 17th. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.43.

Nutanix Stock Performance

NTNX opened at $38.24 on Tuesday. The company has a fifty day moving average price of $43.11 and a two-hundred day moving average price of $57.02. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36. The firm has a market capitalization of $10.34 billion, a PE ratio of 41.57, a P/E/G ratio of 4.13 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The company had revenue of $722.83 million during the quarter, compared to analysts’ expectations of $709.83 million. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts forecast that Nutanix will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Nutanix by 72.8% in the fourth quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock worth $591,991,000 after acquiring an additional 4,826,443 shares in the last quarter. Norges Bank bought a new position in shares of Nutanix during the 4th quarter valued at about $187,169,000. FIL Ltd lifted its holdings in shares of Nutanix by 180.1% during the 4th quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock valued at $224,021,000 after purchasing an additional 2,786,929 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of Nutanix by 926.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,687,387 shares of the technology company’s stock valued at $138,911,000 after purchasing an additional 2,425,665 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Nutanix by 75.9% in the 2nd quarter. Marshall Wace LLP now owns 3,279,107 shares of the technology company’s stock valued at $250,655,000 after purchasing an additional 1,415,117 shares during the period. 85.25% of the stock is currently owned by 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.