Nutanix’s (NTNX) “Buy” Rating Reaffirmed at Rosenblatt Securities

Nutanix (NASDAQ:NTNX)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They currently have a $60.00 price target on the technology company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 34.26% from the company’s current price.

Several other equities analysts also recently commented on NTNX. UBS Group upped their price objective on shares of Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company decreased their price objective on shares of Nutanix from $57.00 to $50.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Bank of America decreased their price objective on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of Nutanix from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, William Blair reissued a “market perform” rating on shares of Nutanix in a research report on Monday, March 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Nutanix has a consensus rating of “Moderate Buy” and a consensus price target of $60.87.

Nutanix Price Performance

NASDAQ:NTNX opened at $44.69 on Friday. Nutanix has a one year low of $34.01 and a one year high of $82.42. The company has a market cap of $11.85 billion, a P/E ratio of 48.58, a P/E/G ratio of 5.03 and a beta of 0.54. The firm’s fifty day moving average price is $41.04 and its two-hundred day moving average price is $46.24.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.44 by $0.12. Nutanix had a net margin of 9.95% and a negative return on equity of 37.41%. The firm had revenue of $722.83 million for the quarter, compared to the consensus estimate of $709.83 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that Nutanix will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Essential Partners LLC lifted its position in Nutanix by 27.9% during the first quarter. Essential Partners LLC now owns 5,755 shares of the technology company’s stock worth $219,000 after purchasing an additional 1,255 shares during the period. Western Wealth Management LLC bought a new stake in Nutanix during the first quarter worth about $27,000. Janus Henderson Group PLC lifted its position in Nutanix by 491.5% during the first quarter. Janus Henderson Group PLC now owns 117,800 shares of the technology company’s stock worth $4,477,000 after purchasing an additional 97,884 shares during the period. Bull Harbor Capital LLC bought a new stake in Nutanix during the first quarter worth about $842,000. Finally, South Dakota Investment Council lifted its position in Nutanix by 27.0% during the first quarter. South Dakota Investment Council now owns 57,377 shares of the technology company’s stock worth $2,181,000 after purchasing an additional 12,200 shares during the period. Institutional investors own 85.25% of the company’s stock.

About Nutanix

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.