Rosenblatt Securities Increases Nutanix (NASDAQ:NTNX) Price Target to $75.00

Key Points

• Rosenblatt Securities raised Nutanix’s price target to $75 from $60 while maintaining a “buy” rating, implying approximately 12.48% upside from the reported share price.
• Analyst sentiment is generally positive: Nutanix has a consensus “Moderate Buy” rating and an average price target of $62.93, with Royal Bank of Canada setting a notably higher $84 target.
• Nutanix exceeded quarterly expectations, reporting $0.47 in EPS versus $0.35 expected and revenue of $703.07 million versus $686.34 million; revenue increased 10% year over year.

Nutanix (NASDAQ:NTNX - Get Free Report) had its target price increased by equities researchers at Rosenblatt Securities from $60.00 to $75.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Rosenblatt Securities' target price indicates a potential upside of 12.48% from the company's current price.

Several other research firms have also issued reports on NTNX. Barclays increased their target price on Nutanix from $47.00 to $53.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. Wells Fargo & Company upped their price objective on shares of Nutanix from $50.00 to $55.00 and gave the stock an "equal weight" 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. Needham & Company LLC raised their target price on shares of Nutanix from $55.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Finally, Royal Bank Of Canada boosted their target price on shares of Nutanix from $58.00 to $84.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Nutanix has a consensus rating of "Moderate Buy" and a consensus price target of $62.93.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $66.68 on Tuesday. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 70.19, a P/E/G ratio of 4.33 and a beta of 0.60. The stock's fifty day moving average price is $56.51 and its two-hundred day moving average price is $47.48. Nutanix has a one year low of $34.01 and a one year high of $82.42.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.12. The business had revenue of $703.07 million for the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, equities analysts anticipate that Nutanix will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. CX Institutional increased its holdings in Nutanix by 134.6% in the 2nd quarter. CX Institutional now owns 488 shares of the technology company's stock worth $25,000 after purchasing an additional 280 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Nutanix during the first quarter valued at about $27,000. New Millennium Group LLC acquired a new stake in shares of Nutanix during the fourth quarter valued at about $28,000. Covestor Ltd grew its holdings in shares of Nutanix by 73.1% during the fourth quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after purchasing an additional 324 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Nutanix by 159.4% during the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock worth $42,000 after purchasing an additional 502 shares during the last quarter. 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.

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