Shares of Nutanix (NASDAQ: NTNX) have received an average target price of $75.13 from analysts following the company’s performance. Currently, nineteen brokerages are covering the stock, with a consensus rating of “Moderate Buy.” Among these, six analysts have issued a hold rating, while thirteen have recommended buying the stock.
Several investment firms have recently updated their assessments of Nutanix. Bank of America reduced its price target from $93.00 to $75.00, maintaining a “buy” rating in a report dated November 26, 2023. Conversely, Northland Capital Markets downgraded Nutanix from a “strong-buy” to a “hold” rating on October 9, 2023. Additionally, Barclays reaffirmed an “overweight” rating, setting a price target of $64.00 in their report on the same day as Bank of America.
In another notable update, Weiss Ratings assigned a “hold (c-)” rating to Nutanix on November 25, 2023. Earlier, on August 5, 2023, Citigroup raised its rating to “positive.”
Institutional Investment Trends
Institutional investors have made significant changes to their holdings in Nutanix. Norges Bank acquired a new stake valued at approximately $263.94 million during the second quarter. In the third quarter, AQR Capital Management LLC increased its position by 40.6%, now owning 6,626,271 shares worth around $492.93 million after acquiring an additional 1,914,005 shares.
Other notable movements include Marshall Wace LLP, which grew its position by 75.9% in the second quarter, now holding 3,279,107 shares valued at $250.66 million. Jericho Capital Asset Management L.P. increased its stake by 46.8% in the first quarter, holding 4,102,993 shares worth $286.43 million after purchasing an additional 1,308,357 shares. Overall, institutional investors and hedge funds own approximately 85.25% of Nutanix’s stock.
Current Stock Performance and Earnings Report
As of last Friday, Nutanix shares opened at $47.19, reflecting a 1.3% decline. The company has a market capitalization of $12.68 billion, a price-to-earnings (P/E) ratio of 73.74, and a beta of 0.54. Over the past year, Nutanix has experienced a 52-week low of $46.74 and a 52-week high of $83.36. The stock’s 50-day moving average price is $67.47, while the 200-day moving average stands at $71.87.
On November 25, 2023, Nutanix announced its latest earnings results, reporting earnings per share (EPS) of $0.41, meeting analyst expectations. The company achieved revenue of $670.58 million, slightly below the projected $677.23 million. Nutanix noted a net margin of 7.42% and a negative return on equity of 28.01%, with revenue increasing by 13.5% compared to the same quarter the previous year.
Looking ahead, Nutanix has set its fiscal year 2026 guidance at an EPS of $0.31. As analysts evaluate the company’s performance, Nutanix remains a significant player in the technology sector, providing cloud platforms and services across various geographic segments, including the United States, Europe, and Asia Pacific.
