Nutanix (NASDAQ:NTNX) Trading Down 5.6% – Should You Sell?
by Teresa Graham · The Cerbat GemShares of Nutanix (NASDAQ:NTNX – Get Free Report) were down 5.6% during trading on Wednesday . The stock traded as low as $45.37 and last traded at $45.5530. Approximately 520,757 shares were traded during trading, a decline of 88% from the average daily volume of 4,272,819 shares. The stock had previously closed at $48.27.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on NTNX shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $44.00 price target on shares of Nutanix in a research report on Friday, April 10th. The Goldman Sachs Group reduced their price target on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Needham & Company LLC reduced their price target on shares of Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. UBS Group raised their target price on shares of Nutanix from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Piper Sandler cut their target price on shares of Nutanix from $72.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.87.
View Our Latest Analysis on NTNX
Nutanix Stock Down 7.3%
The firm’s 50 day simple moving average is $40.82 and its 200 day simple moving average is $46.60. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 5.30 and a beta of 0.54.
Nutanix (NASDAQ:NTNX – Get Free Report) last announced its quarterly earnings results 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 company had revenue of $722.83 million for the quarter, compared to analyst estimates of $709.83 million. During the same quarter last year, the business earned $0.47 earnings per share. Nutanix’s revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that Nutanix will post 0.56 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Nutanix by 72.8% in the 4th quarter. AQR Capital Management LLC now owns 11,452,714 shares of the technology company’s stock worth $591,991,000 after purchasing an additional 4,826,443 shares during the period. Norges Bank acquired a new position in Nutanix in the 4th quarter worth approximately $187,169,000. FIL Ltd boosted its stake in Nutanix by 180.1% in the 4th quarter. FIL Ltd now owns 4,333,937 shares of the technology company’s stock worth $224,021,000 after purchasing an additional 2,786,929 shares during the period. Alyeska Investment Group L.P. boosted its stake in Nutanix by 926.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,687,387 shares of the technology company’s stock worth $138,911,000 after purchasing an additional 2,425,665 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Nutanix by 592.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,601,351 shares of the technology company’s stock worth $82,774,000 after purchasing an additional 1,370,047 shares during the period. Institutional investors and hedge funds 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.