Nutanix (NASDAQ:NTNX) Shares Up 8.4% - What's Next?

Key Points

• Shares rose 8.4% mid-day to $37.42 (last $37.30) from a $34.41 close, on lighter-than-normal volume (1.78M shares, down ~62% vs. average).
• Analysts are mixed but generally positive — MarketBeat shows an average rating of Moderate Buy with an average price target of $60.87, while individual targets range roughly $47–$60.
• Nutanix beat quarterly estimates with $0.56 EPS vs. $0.44 expected and $722.8M revenue (up 10.4% YoY); market cap is about $9.9B and institutions own ~85% of the shares.

Nutanix (NASDAQ:NTNX - Get Free Report) shot up 8.4% during mid-day trading on Monday . The stock traded as high as $37.42 and last traded at $37.3040. 1,776,206 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 4,726,207 shares. The stock had previously closed at $34.41.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NTNX. Wall Street Zen cut shares of Nutanix from a "buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $55.00 target price on shares of Nutanix in a research report on Wednesday, April 8th. Bank of America reduced their target price on Nutanix from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Rosenblatt Securities assumed coverage on Nutanix in a research note on Thursday, April 2nd. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Barclays reduced their target price on Nutanix from $53.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.87.

Nutanix Price Performance

The firm has a market cap of $9.91 billion, a P/E ratio of 40.62, a PEG ratio of 3.77 and a beta of 0.52. The stock has a 50 day moving average of $39.64 and a 200 day moving average of $51.66.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.12. The business had revenue of $722.83 million for the quarter, compared to analysts' expectations of $709.83 million. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The firm's revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, research analysts predict that Nutanix will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutanix

Large investors have recently added to or reduced their stakes in the business. New Millennium Group LLC purchased a new position in Nutanix in the 4th quarter worth $28,000. V Square Quantitative Management LLC purchased a new position in Nutanix in the 4th quarter worth $39,000. Covestor Ltd raised its position in Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company's stock worth $40,000 after purchasing an additional 324 shares during the period. Harbour Investments Inc. raised its position in Nutanix by 159.4% in the 4th 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 period. Finally, GW&K Investment Management LLC raised its position in Nutanix by 78.7% in the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company's stock worth $51,000 after purchasing an additional 432 shares during the period. Hedge funds and other institutional investors 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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