Analysts Set Nutanix (NASDAQ:NTNX) PT at $62.43

Shares of Nutanix (NASDAQ:NTNX) have been given a consensus rating of “Moderate Buy” by the eighteen analysts that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $62.4286.

Several analysts recently commented on the stock. KeyCorp reduced their price objective on shares of Nutanix from $95.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Wells Fargo & Company lowered their target price on shares of Nutanix from $57.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley dropped their target price on shares of Nutanix from $62.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Barclays dropped their target price on shares of Nutanix from $53.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Northland Securities reduced their price target 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.

Nutanix Stock Performance

NASDAQ:NTNX opened at $38.24 on Monday. Nutanix has a 1 year low of $35.39 and a 1 year high of $83.36. The stock has a fifty day moving average price of $43.11 and a two-hundred day moving average price of $57.02. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 41.57, a PEG 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, topping 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 for the quarter, compared to analyst estimates of $709.83 million. During the same period in the previous year, the firm earned $0.47 EPS. The business’s revenue was up 10.4% on a year-over-year basis. On average, analysts predict that Nutanix will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd grew its position 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 worth $2,218,000 after acquiring an additional 11,670 shares in the last quarter. Norges Bank bought a new stake in shares of Nutanix in the 2nd quarter valued at approximately $263,938,000. Swiss National Bank raised its position in shares of Nutanix by 6.7% during the 2nd quarter. Swiss National Bank now owns 766,300 shares of the technology company’s stock valued at $58,576,000 after acquiring an additional 48,400 shares in the last quarter. Prudential Financial Inc. raised its position 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 valued at $15,560,000 after acquiring an additional 203,449 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Nutanix by 19.1% during the second quarter. Schroder Investment Management Group now owns 1,190,376 shares of the technology company’s stock worth $90,992,000 after purchasing an additional 191,314 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.