Nutanix (NASDAQ:NTNX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Nutanix (NASDAQ:NTNX) have received an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.00.

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Nutanix from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. The Goldman Sachs Group restated a “buy” rating on shares of Nutanix in a report on Thursday, May 28th. Royal Bank Of Canada raised their price objective on shares of Nutanix from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Nutanix from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th.

Nutanix Trading Down 1.3%

NTNX traded down $0.74 during trading on Friday, reaching $54.79. 6,403,849 shares of the company’s stock were exchanged, compared to its average volume of 3,719,580. Nutanix has a one year low of $34.01 and a one year high of $82.42. The stock has a market capitalization of $14.81 billion, a PE ratio of 57.67, a price-to-earnings-growth ratio of 4.83 and a beta of 0.61. The firm has a fifty day moving average price of $48.91 and a two-hundred day moving average price of $44.77.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm had revenue of $364.94 million for the quarter, compared to the consensus estimate of $686.34 million. During the same period in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Nutanix will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NTNX. CW Advisors LLC purchased a new position in Nutanix during the second quarter worth about $273,000. Cerity Partners LLC increased its stake in Nutanix by 15.2% in the 2nd quarter. Cerity Partners LLC now owns 83,073 shares of the technology company’s stock valued at $6,350,000 after buying an additional 10,967 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Nutanix by 296.5% during the 2nd quarter. Bank of Nova Scotia now owns 41,616 shares of the technology company’s stock worth $3,181,000 after buying an additional 31,119 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Nutanix by 94.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 48,263 shares of the technology company’s stock worth $3,690,000 after buying an additional 23,479 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Nutanix by 164.4% in the 2nd quarter. NewEdge Advisors LLC now owns 8,622 shares of the technology company’s stock worth $659,000 after buying an additional 5,361 shares during the last quarter. 85.25% of the stock is owned by 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.