Analysts Set Nutanix (NASDAQ:NTNX) Target Price at $60.87

Shares of Nutanix (NASDAQ:NTNX) have been assigned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $60.8667.

NTNX has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, February 9th. UBS Group upped their target price on Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. William Blair reiterated a “market perform” rating on shares of Nutanix in a research note on Monday, March 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $44.00 target price on shares of Nutanix in a research note on Friday, April 10th. Finally, Morgan Stanley dropped their target price on Nutanix from $62.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th.

Hedge Funds Weigh In On Nutanix

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in Nutanix by 5.8% in the first quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock valued at $179,000 after purchasing an additional 259 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Nutanix by 11.7% during the first quarter. 180 Wealth Advisors LLC now owns 11,953 shares of the technology company’s stock valued at $454,000 after acquiring an additional 1,251 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in Nutanix during the first quarter valued at about $289,000. Fifth Third Bancorp grew its position in Nutanix by 9,195.8% during the first quarter. Fifth Third Bancorp now owns 65,814 shares of the technology company’s stock valued at $2,502,000 after acquiring an additional 65,106 shares during the period. Finally, Account Management LLC purchased a new stake in Nutanix during the first quarter valued at about $1,710,000. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Stock Up 4.2%

NASDAQ NTNX opened at $42.60 on Tuesday. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $83.36. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 4.76 and a beta of 0.54. The business has a fifty day moving average of $39.48 and a 200-day moving average of $48.53.

Nutanix (NASDAQ:NTNX) last released 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. The firm had revenue of $722.83 million during the quarter, compared to analyst estimates of $709.83 million. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. As a group, analysts anticipate that Nutanix will post 0.56 EPS for the current year.

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.