Rosenblatt Securities Forecasts Strong Price Appreciation for Nutanix (NASDAQ:NTNX) Stock

Nutanix (NASDAQ:NTNX) had its price objective increased by stock analysts at Rosenblatt Securities from $60.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 12.48% from the company’s current price.

Other equities analysts have also issued reports about the company. Bank of America lifted their price objective on Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company raised their price target on shares of Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Barclays upped their price objective on shares of Nutanix from $47.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Zacks Research raised shares of Nutanix from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.93.

Nutanix Stock Down 1.4%

NASDAQ NTNX opened at $66.68 on Tuesday. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 70.19, a PEG ratio of 4.33 and a beta of 0.60. Nutanix has a twelve month low of $34.01 and a twelve month high of $82.42. The stock has a fifty day simple moving average of $56.51 and a 200 day simple moving average of $47.48.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm had revenue of $703.07 million for the quarter, compared to the consensus estimate of $686.34 million. During the same period in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts expect that Nutanix will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CX Institutional boosted its holdings in Nutanix by 134.6% in the second quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after acquiring an additional 280 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Nutanix during the first quarter worth approximately $27,000. New Millennium Group LLC bought a new position in shares of Nutanix in the 4th quarter worth $28,000. Covestor Ltd grew its position in 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. Finally, Harbour Investments Inc. increased its stake in Nutanix by 159.4% during 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 in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

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.