Nutanix (NASDAQ:NTNX) Receives Buy Rating from Bank of America

Share on StockTwits

Bank of America reaffirmed their buy rating on shares of Nutanix (NASDAQ:NTNX) in a research report report published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $35.00 price objective on the technology company’s stock, down from their previous price objective of $41.00.

A number of other equities analysts have also recently issued reports on NTNX. Needham & Company LLC lowered their target price on Nutanix from $63.00 to $46.00 and set a buy rating for the company in a report on Friday, May 31st. Jefferies Financial Group lowered their target price on Nutanix from $49.00 to $40.00 and set a buy rating for the company in a report on Friday, May 31st. KeyCorp lowered their target price on Nutanix from $48.00 to $40.00 and set an overweight rating for the company in a report on Friday, May 31st. OTR Global initiated coverage on Nutanix in a report on Thursday, May 16th. They issued a neutral rating for the company. Finally, Piper Jaffray Companies cut Nutanix from an overweight rating to a neutral rating and set a $25.75 target price for the company. in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nutanix currently has a consensus rating of Hold and a consensus target price of $41.52.

Shares of NTNX opened at $18.73 on Tuesday. Nutanix has a 12-month low of $18.33 and a 12-month high of $63.38. The stock has a 50-day moving average price of $23.98. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 1.48. The firm has a market cap of $3.55 billion, a PE ratio of -11.08 and a beta of 1.35.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Thursday, May 30th. The technology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.12). Nutanix had a negative return on equity of 127.35% and a negative net margin of 41.47%. The firm had revenue of $287.60 million during the quarter, compared to analyst estimates of $297.20 million. During the same period in the previous year, the company earned ($0.21) EPS. Nutanix’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts forecast that Nutanix will post -3.28 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTNX. Comerica Securities Inc. acquired a new stake in Nutanix during the 4th quarter worth about $249,000. Dimensional Fund Advisors LP raised its holdings in Nutanix by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 191,993 shares of the technology company’s stock worth $7,983,000 after buying an additional 17,691 shares during the period. Legal & General Group Plc raised its holdings in Nutanix by 24.5% during the 4th quarter. Legal & General Group Plc now owns 63,468 shares of the technology company’s stock worth $2,640,000 after buying an additional 12,506 shares during the period. Geode Capital Management LLC raised its holdings in Nutanix by 18.0% during the 4th quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock worth $38,248,000 after buying an additional 140,610 shares during the period. Finally, Chartwell Investment Partners LLC raised its holdings in Nutanix by 3.4% during the 1st quarter. Chartwell Investment Partners LLC now owns 11,959 shares of the technology company’s stock worth $451,000 after buying an additional 390 shares during the period. Hedge funds and other institutional investors own 62.09% of the company’s stock.

About Nutanix

Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.

Read More: Front-End Load

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

Receive News & Ratings for Nutanix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix and related companies with MarketBeat.com's FREE daily email newsletter.