Nutanix (NASDAQ:NTNX) Issues Quarterly Earnings Results, Beats Expectations By $998.56 EPS

Nutanix (NASDAQ:NTNX) announced its earnings results on Wednesday. The technology company reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.44 by $998.56, Zacks reports. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded up $0.59 during trading hours on Wednesday, hitting $38.45. 5,625,132 shares of the company’s stock traded hands, compared to its average volume of 4,326,032. The company’s fifty day simple moving average is $45.83 and its two-hundred day simple moving average is $59.22. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 4.06 and a beta of 0.48. Nutanix has a 52 week low of $35.39 and a 52 week high of $83.36.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NTNX shares. Royal Bank Of Canada set a $55.00 price target on Nutanix in a report on Wednesday, February 11th. Bank of America decreased their target price on shares of Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. UBS Group set a $57.00 price target on shares of Nutanix in a research report on Monday, February 9th. JPMorgan Chase & Co. reduced their price target on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, Oppenheimer assumed coverage on shares of Nutanix in a report on Monday, November 17th. They issued an “outperform” rating and a $90.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.73.

Institutional Trading of Nutanix

Large investors have recently added to or reduced their stakes in the business. GW&K Investment Management LLC increased its holdings in shares of Nutanix by 78.7% in the fourth quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after buying an additional 432 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Nutanix by 135.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,059 shares of the technology company’s stock worth $79,000 after acquiring an additional 609 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Nutanix by 52.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,142 shares of the technology company’s stock worth $59,000 after purchasing an additional 393 shares during the period. Summit Securities Group LLC raised its position in shares of Nutanix by 26.4% during the fourth quarter. Summit Securities Group LLC now owns 1,356 shares of the technology company’s stock worth $70,000 after purchasing an additional 283 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Nutanix by 26.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,556 shares of the technology company’s stock valued at $80,000 after purchasing an additional 330 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

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.