Nutanix (NASDAQ:NTNX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Nutanix (NASDAQ:NTNX) from a buy rating to a hold rating in a report published on Saturday morning.

NTNX has been the subject of several other reports. Barclays reiterated an “equal weight” rating and issued a $53.00 price objective (down from $64.00) on shares of Nutanix in a research report on Thursday. 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 report on Wednesday, November 26th. Needham & Company LLC lowered their price objective on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Wells Fargo & Company dropped their price objective on shares of Nutanix from $71.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 26th. Finally, Northland Securities cut their price objective on shares of Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Nutanix Stock Down 6.0%

Shares of NTNX stock opened at $45.74 on Friday. Nutanix has a 12-month low of $45.70 and a 12-month high of $83.36. The firm has a fifty day moving average of $53.28 and a 200-day moving average of $65.68. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 60.99, a price-to-earnings-growth ratio of 4.86 and a beta of 0.49.

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

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. Farther Finance Advisors LLC grew its holdings in shares of Nutanix by 42.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Nutanix in the 2nd quarter valued at approximately $45,000. SJS Investment Consulting Inc. grew its stake in shares of Nutanix by 3,122.7% in the third quarter. SJS Investment Consulting Inc. now owns 709 shares of the technology company’s stock valued at $53,000 after buying an additional 687 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Nutanix by 33.0% in the second quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock valued at $57,000 after buying an additional 186 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in Nutanix during the third quarter worth $68,000. 85.25% of the stock is 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.