Nutanix (NASDAQ:NTNX) Hits New 12-Month Low – Here’s Why
by Mitch Edgeman · The Markets DailyNutanix (NASDAQ:NTNX – Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $38.25 and last traded at $38.0640, with a volume of 177410 shares traded. The stock had previously closed at $40.10.
Wall Street Analysts Forecast Growth
NTNX has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of Nutanix from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Barclays reaffirmed an “equal weight” rating and set a $53.00 price target (down previously from $64.00) on shares of Nutanix in a research note on Thursday, January 15th. Zacks Research downgraded Nutanix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Royal Bank Of Canada dropped their price target on Nutanix from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Finally, Bank of America dropped their price objective on Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nutanix has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.
Read Our Latest Research Report on Nutanix
Nutanix Stock Down 8.3%
The company has a market cap of $9.94 billion, a price-to-earnings ratio of 49.18, a price-to-earnings-growth ratio of 4.20 and a beta of 0.48. The company’s 50-day moving average is $48.42 and its 200 day moving average is $63.06.
Nutanix (NASDAQ:NTNX – Get Free Report) last announced its earnings results on Tuesday, November 25th. The technology company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The business had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. Analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.
Institutional Trading of Nutanix
A number of hedge funds have recently bought and sold shares of NTNX. Norges Bank purchased a new stake in Nutanix in the 2nd quarter valued at about $263,938,000. AQR Capital Management LLC boosted its stake in Nutanix by 40.6% in the third quarter. AQR Capital Management LLC now owns 6,626,271 shares of the technology company’s stock valued at $492,928,000 after acquiring an additional 1,914,005 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Nutanix by 75.9% during the second quarter. Marshall Wace LLP now owns 3,279,107 shares of the technology company’s stock worth $250,655,000 after purchasing an additional 1,415,117 shares during the last quarter. M&T Bank Corp grew its stake in Nutanix by 17,534.8% during the 4th quarter. M&T Bank Corp now owns 1,281,342 shares of the technology company’s stock worth $66,233,000 after buying an additional 1,274,076 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Nutanix by 4.6% in the third quarter. Vanguard Group Inc. now owns 26,682,475 shares of the technology company’s stock valued at $1,984,909,000 after acquiring an additional 1,167,193 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.
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.