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

by · The Markets Daily

Nutanix (NASDAQ:NTNX – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other equities analysts have also recently commented on NTNX. Wells Fargo & Company dropped their price objective on shares of Nutanix from $57.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Needham & Company LLC lowered their price target on shares of Nutanix from $65.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Oppenheimer assumed coverage on Nutanix in a research note on Monday, November 17th. They set an “outperform” rating and a $90.00 price objective on the stock. Bank of America decreased their price objective on Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nutanix in a report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.43.

Check Out Our Latest Stock Analysis on Nutanix

Nutanix Price Performance

NASDAQ NTNX opened at $40.70 on Monday. Nutanix has a 1-year low of $35.39 and a 1-year high of $83.36. The business has a 50 day simple moving average of $44.62 and a two-hundred day simple moving average of $58.17. The stock has a market capitalization of $11.01 billion, a PE ratio of 44.24, a P/E/G ratio of 3.57 and a beta of 0.49.

Nutanix (NASDAQ:NTNX – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 earnings per share (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 for the quarter, compared to analysts’ expectations of $709.83 million. During the same period in the prior year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. raised its holdings in shares of Nutanix by 6.4% in the second quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock worth $188,000 after buying an additional 148 shares during the period. Simmons Bank grew its position in Nutanix by 2.1% in the 2nd quarter. Simmons Bank now owns 7,295 shares of the technology company’s stock valued at $558,000 after acquiring an additional 150 shares during the last quarter. Crestwood Advisors Group LLC increased its stake 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 during the period. Manchester Capital Management LLC lifted its position in shares of Nutanix by 14.1% during the second quarter. Manchester Capital Management LLC now owns 1,374 shares of the technology company’s stock worth $105,000 after purchasing an additional 170 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Nutanix by 33.0% during the second quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock worth $57,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

(Get Free Report)

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.

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