Nutanix (NASDAQ:NTNX) Reaches New 1-Year Low – Here’s What Happened

Nutanix (NASDAQ:NTNX)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $38.25 and last traded at $38.0640, with a volume of 177410 shares trading hands. The stock had previously closed at $40.10.

Analyst Ratings Changes

NTNX has been the subject of several recent analyst reports. Bank of America reduced their price target on Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. JPMorgan Chase & Co. lowered 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. Wall Street Zen downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Northland Securities decreased their price target on Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 26th. Finally, Oppenheimer began coverage on Nutanix in a research report on Monday, November 17th. They set an “outperform” rating and a $90.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Nutanix Stock Performance

The company has a market cap of $9.94 billion, a PE ratio of 49.18, a PEG ratio of 4.20 and a beta of 0.48. The firm has a fifty day simple moving average of $48.42 and a 200 day simple moving average of $63.06.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $670.58 million during 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 quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, equities analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NTNX. Farther Finance Advisors LLC grew its holdings in shares of Nutanix by 42.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Nutanix by 3.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 40,450 shares of the technology company’s stock worth $3,092,000 after acquiring an additional 1,201 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Nutanix during the 2nd quarter valued at about $232,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nutanix by 620.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,800 shares of the technology company’s stock valued at $367,000 after acquiring an additional 4,134 shares in the last quarter. Finally, 111 Capital boosted its position in Nutanix by 35.8% during the second quarter. 111 Capital now owns 5,648 shares of the technology company’s stock worth $432,000 after purchasing an additional 1,489 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

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.