Nutanix (NASDAQ:NTNX) Stock Rating Upgraded by UBS Group

Nutanix (NASDAQ:NTNX) was upgraded by UBS Group to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on NTNX. Wall Street Zen downgraded Nutanix from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Oppenheimer began coverage on shares of Nutanix in a research note on Monday, November 17th. They issued an “outperform” rating and a $90.00 target price for the company. JPMorgan Chase & Co. dropped their price target 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. Royal Bank Of Canada cut their price objective on shares of Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Nutanix presently has an average rating of “Moderate Buy” and an average target price of $67.80.

Nutanix Stock Performance

Shares of NASDAQ:NTNX opened at $41.88 on Monday. The stock has a 50-day simple moving average of $47.25 and a 200-day simple moving average of $61.58. The stock has a market capitalization of $11.32 billion, a P/E ratio of 55.84, a PEG ratio of 4.44 and a beta of 0.48. Nutanix has a 1 year low of $35.39 and a 1 year high of $83.36.

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

Institutional Trading of Nutanix

A number of institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC acquired a new stake in Nutanix during the fourth quarter worth about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $39,000. Covestor Ltd raised its position in shares of Nutanix by 73.1% during the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after purchasing an additional 502 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in Nutanix by 3,122.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock valued at $53,000 after purchasing an additional 687 shares during the period. 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.