William Blair Reiterates “Market Perform” Rating for Nutanix (NASDAQ:NTNX)

Nutanix (NASDAQ:NTNX)‘s stock had its “market perform” rating reissued by research analysts at William Blair in a note issued to investors on Monday.

A number of other equities analysts also recently commented on the stock. UBS Group upped their price objective on shares of Nutanix from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada set a $55.00 price target 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. The Goldman Sachs Group reduced their price objective on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, KeyCorp dropped their target price on Nutanix from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Eleven research 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, Nutanix has an average rating of “Moderate Buy” and a consensus target price of $62.43.

Nutanix Trading Down 3.8%

Shares of NTNX stock opened at $39.48 on Monday. The company has a market capitalization of $10.47 billion, a P/E ratio of 42.91, a price-to-earnings-growth ratio of 4.22 and a beta of 0.49. The business’s 50 day moving average is $41.47 and its two-hundred day moving average is $55.60. Nutanix has a twelve month low of $35.39 and a twelve month high of $83.36.

Nutanix (NASDAQ:NTNX) last released its quarterly 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 negative return on equity of 37.41% and a net margin of 9.95%.The business had revenue of $722.83 million during the quarter, compared to analysts’ expectations of $709.83 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC increased 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 valued at $3,236,000 after buying an additional 161 shares in the last quarter. Manchester Capital Management LLC increased its stake in Nutanix by 14.1% in the 2nd quarter. Manchester Capital Management LLC now owns 1,374 shares of the technology company’s stock valued at $105,000 after purchasing an additional 170 shares in the last quarter. OFI Invest Asset Management raised its holdings in Nutanix by 14.9% during the third quarter. OFI Invest Asset Management now owns 1,696 shares of the technology company’s stock worth $126,000 after purchasing an additional 220 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Nutanix by 18.2% during the second quarter. Advisors Asset Management Inc. now owns 1,453 shares of the technology company’s stock worth $111,000 after purchasing an additional 224 shares during the last quarter. Finally, CWC Advisors LLC. boosted its position in Nutanix by 4.3% during the third quarter. CWC Advisors LLC. now owns 5,636 shares of the technology company’s stock worth $419,000 after purchasing an additional 234 shares in the last quarter. 85.25% of the stock is currently 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.