Nutanix (NASDAQ:NTNX) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Nutanix (NASDAQ:NTNX) from an overweight rating to an equal weight rating in a report issued on Monday, MarketBeat Ratings reports. Morgan Stanley currently has $62.00 target price on the technology company’s stock, down from their previous target price of $82.00.

Several other equities analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced their price objective on Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Zacks Research cut shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Bank of America reduced 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $72.00 price target (down from $88.00) on shares of Nutanix in a research note on Wednesday, November 26th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Nutanix Stock Performance

NASDAQ:NTNX opened at $51.44 on Monday. The stock has a market capitalization of $13.91 billion, a PE ratio of 68.59, a P/E/G ratio of 5.60 and a beta of 0.49. Nutanix has a fifty-two week low of $46.12 and a fifty-two week high of $83.36. The company has a fifty day moving average of $54.16 and a two-hundred day moving average of $66.08.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The business had revenue of $670.58 million for the quarter, compared to analyst estimates of $677.23 million. During the same quarter last year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts forecast that Nutanix will post 0.31 earnings per share for the current year.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB acquired a new position in Nutanix in the first quarter valued at approximately $1,642,000. OMNI 360 Wealth Inc. acquired a new position in shares of Nutanix in the 2nd quarter valued at $265,000. Parallel Advisors LLC grew its holdings in shares of Nutanix by 96.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,606 shares of the technology company’s stock worth $199,000 after purchasing an additional 1,281 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Nutanix by 116.5% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,897 shares of the technology company’s stock worth $298,000 after purchasing an additional 2,097 shares during the period. Finally, Silverberg Bernstein Capital Management LLC increased its position in shares of Nutanix by 61.6% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 37,893 shares of the technology company’s stock worth $2,897,000 after purchasing an additional 14,438 shares during the last quarter. 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.