Nutanix (NASDAQ:NTNX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Nutanix holds a “Moderate Buy” consensus rating from 17 analysts: nine recommend buying, seven recommend holding, and one recommends a strong buy. The average 12-month price target is $60.
• Recent analysts raised their price targets, including Bank of America to $65, Royal Bank of Canada to $58, and Needham to $60, while maintaining positive or neutral ratings.
• Nutanix exceeded quarterly expectations, reporting $0.47 in EPS versus a $0.35 estimate and $703.07 million in revenue versus a $686.34 million consensus. Revenue increased 10% year over year, and institutional investors own 85.25% of the company.

Nutanix (NASDAQ:NTNX - Get Free Report) has earned an average rating of "Moderate Buy" from the seventeen research firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $60.00.

NTNX has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on shares of Nutanix from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 28th. Zacks Research raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Royal Bank Of Canada lifted their price target on Nutanix from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Bank of America upped their price objective on Nutanix from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Needham & Company LLC upped their target price on shares of Nutanix from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. CX Institutional grew its holdings in shares of Nutanix by 134.6% in the 2nd quarter. CX Institutional now owns 488 shares of the technology company's stock valued at $25,000 after buying an additional 280 shares during the period. New Millennium Group LLC acquired a new stake in Nutanix in the 4th quarter valued at approximately $28,000. Western Wealth Management LLC acquired a new stake in Nutanix in the 1st quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Nutanix in the fourth quarter valued at about $39,000. Finally, Covestor Ltd raised its holdings in Nutanix by 73.1% during the fourth quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

Nutanix Stock Performance

NASDAQ:NTNX opened at $60.96 on Thursday. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 64.17, a PEG ratio of 4.07 and a beta of 0.60. The firm's 50-day moving average is $53.03 and its 200-day moving average is $45.34.

Nutanix (NASDAQ:NTNX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The company had revenue of $703.07 million during the quarter, compared to the consensus estimate of $686.34 million. During the same quarter last year, the company earned $0.22 EPS. The company's quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts predict that Nutanix will post 0.71 EPS for the current year.

Nutanix Company Profile

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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