Nutanix (NASDAQ:NTNX) Stock Price Up 7.1% – Time to Buy?

Nutanix (NASDAQ:NTNX) shares rose 7.1% on Thursday . The company traded as high as $40.83 and last traded at $40.7540. Approximately 1,155,681 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 4,765,604 shares. The stock had previously closed at $38.04.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley decreased their price target 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 price objective on shares of Nutanix from $53.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Royal Bank Of Canada set a $55.00 target price on shares of Nutanix in a research note on Wednesday, February 11th. Wall Street Zen cut shares of Nutanix from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, UBS Group upped their price target on shares of Nutanix from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.27.

Nutanix Stock Performance

The company has a 50 day moving average of $40.02 and a 200 day moving average of $53.70. The firm has a market cap of $10.76 billion, a P/E ratio of 44.09, a PEG ratio of 4.07 and a beta of 0.52.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.12. The firm had revenue of $722.83 million for the quarter, compared to analyst estimates of $709.83 million. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC bought a new position in Nutanix during the fourth quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in shares of Nutanix during the 4th quarter worth about $39,000. Covestor Ltd increased its holdings in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after acquiring an additional 324 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after acquiring an additional 502 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in shares of Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after acquiring an additional 432 shares in the last quarter. 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.