Nutanix (NASDAQ:NTNX) Sets New 52-Week Low - What's Next?

Key Points

• Shares of Nutanix (NTNX) hit a new 52-week low of $34.52 (last $34.72) on Friday, trading down roughly 6% and sitting well below its 50‑day ($39.74) and 200‑day ($52.27) moving averages.
• Analysts are mixed but tilted positive, with a MarketBeat consensus of Moderate Buy and a consensus target price of $60.87, despite several recent target adjustments and rating changes from firms including Needham, UBS and Morgan Stanley.
• Fundamentals show a recent quarterly beat—EPS $0.56 vs. $0.44 expected and revenue $722.8M (up 10.4% YoY)—while institutional investors hold about 85.25% of the stock.

Shares of Nutanix (NASDAQ:NTNX - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $34.52 and last traded at $34.7240, with a volume of 977624 shares changing hands. The stock had previously closed at $36.94.

Wall Street Analysts Forecast Growth

NTNX has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Nutanix in a report on Friday, March 27th. Needham & Company LLC reduced their target price on Nutanix from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. UBS Group boosted their target price on Nutanix from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Wall Street Zen downgraded Nutanix from a "buy" rating to a "hold" rating in a report on Tuesday, March 10th. Finally, Morgan Stanley reduced their target price on Nutanix from $62.00 to $56.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.87.

Nutanix Trading Down 6.0%

The firm has a fifty day simple moving average of $39.74 and a 200-day simple moving average of $52.27. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 37.67, a P/E/G ratio of 4.17 and a beta of 0.52.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted 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 firm had revenue of $722.83 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Nutanix in the 4th quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in shares of Nutanix in the 4th quarter valued at $39,000. Covestor Ltd lifted its stake in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company's stock valued at $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. lifted its stake in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company's stock valued at $42,000 after purchasing an additional 502 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in shares of Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company's stock valued at $51,000 after purchasing an additional 432 shares during the period. Institutional investors and hedge funds own 85.25% of the company's stock.

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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