Nutanix (NASDAQ:NTNX) Downgraded to Buy at StockNews.com

Posted by on Jun 23rd, 2023

Nutanix (NASDAQ:NTNX – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other equities research analysts also recently issued reports on the stock. KeyCorp lifted their price target on shares of Nutanix from $33.00 to $38.00 in a research note on Thursday, May 25th. Bank of America boosted their target price on shares of Nutanix from $31.00 to $34.00 in a research report on Thursday, May 25th. Royal Bank of Canada boosted their target price on shares of Nutanix from $33.00 to $38.00 in a research report on Thursday, May 25th. Wells Fargo & Company boosted their target price on shares of Nutanix from $32.00 to $35.00 in a research report on Friday, May 26th. Finally, Piper Sandler boosted their target price on shares of Nutanix from $33.00 to $35.00 in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Nutanix presently has an average rating of “Moderate Buy” and an average target price of $33.75.

Nutanix Stock Down 1.5 %

Nutanix stock opened at $27.96 on Friday. Nutanix has a 12-month low of $13.98 and a 12-month high of $33.73. The firm’s fifty day moving average price is $26.78 and its 200 day moving average price is $27.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NTNX. Bank of New York Mellon Corp boosted its stake in Nutanix by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 706,101 shares of the technology company’s stock valued at $18,938,000 after purchasing an additional 13,696 shares during the period. Bank of Montreal Can boosted its stake in Nutanix by 57.0% during the 1st quarter. Bank of Montreal Can now owns 108,342 shares of the technology company’s stock valued at $2,939,000 after purchasing an additional 39,341 shares during the period. MetLife Investment Management LLC acquired a new position in Nutanix during the 1st quarter valued at about $371,000. BlackRock Inc. boosted its stake in Nutanix by 1.2% during the 1st quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock valued at $260,245,000 after purchasing an additional 117,982 shares during the period. Finally, Blair William & Co. IL boosted its stake in Nutanix by 12.4% during the 1st quarter. Blair William & Co. IL now owns 296,205 shares of the technology company’s stock valued at $7,944,000 after purchasing an additional 32,566 shares during the period. 77.97% of the stock is owned by institutional investors and hedge funds.

Nutanix Company Profile

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Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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