Wall Street Zen Upgrades Nutanix (NASDAQ:NTNX) to Buy

Nutanix (NASDAQ:NTNX) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research note on Monday, December 29th. Piper Sandler reissued an “overweight” rating and issued a $72.00 price target (down previously from $88.00) on shares of Nutanix in a report on Wednesday, November 26th. Oppenheimer started coverage on shares of Nutanix in a research report on Monday, November 17th. They issued an “outperform” rating and a $90.00 price objective on the stock. Needham & Company LLC dropped their target price on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, Wells Fargo & Company cut their target price on Nutanix from $71.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 26th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.13.

Nutanix Trading Down 2.1%

NTNX opened at $50.60 on Friday. Nutanix has a 12 month low of $46.12 and a 12 month high of $83.36. The business’s 50-day moving average price is $56.93 and its 200-day moving average price is $67.24. The company has a market cap of $13.68 billion, a P/E ratio of 67.47, a P/E/G ratio of 5.38 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $670.58 million for the quarter, compared to analyst estimates of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.Nutanix’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Equities research analysts forecast that Nutanix will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Nutanix

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Earned Wealth Advisors LLC grew its holdings in shares of Nutanix by 3.8% during the 2nd quarter. Earned Wealth Advisors LLC now owns 3,915 shares of the technology company’s stock worth $299,000 after acquiring an additional 142 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Nutanix by 6.4% during the second quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock valued at $188,000 after purchasing an additional 148 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Nutanix by 42.6% during the second quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Simmons Bank grew its stake in Nutanix by 2.1% in the second quarter. Simmons Bank now owns 7,295 shares of the technology company’s stock worth $558,000 after purchasing an additional 150 shares during the period. Finally, Crestwood Advisors Group LLC raised its holdings in Nutanix by 0.4% in the third quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock worth $3,236,000 after purchasing an additional 161 shares in the last quarter. 85.25% of the stock is currently owned by hedge funds and other 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.