Nutanix Inc. [NTNX] is 1.73% higher this YTD. Is it still time to buy?

Nutanix Inc. [NASDAQ: NTNX] slipped around -2.27 points on Tuesday, while shares priced at $26.50 at the close of the session, down -7.89%. The company report on March 6, 2023 that Nutanix Reports Selected Preliminary Second Quarter Fiscal 2023 Financial Results.

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Reports 23% YoY ACV Billings Growth and Record Free Cash Flow MarginRaises Fiscal Year 2023 Revenue and ACV Billings Guidance.

Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced selected preliminary financial results for its second quarter ended January 31, 2023. All financial results for the second quarter ended January 31, 2023, and related comparisons to prior periods included in this release have not been reviewed or audited, are based on the Company’s estimates, and were prepared prior to the completion of the Company’s financial statement close process.

Nutanix Inc. stock is now 1.73% up from its year-to-date (YTD) trading value. NTNX Stock saw the intraday high of $27.86 and lowest of $26.10 per share. The company’s 52-week high price is 33.73, which means current price is +7.29% above from all time high which was touched on 02/09/23.

Compared to the average trading volume of 1.85M shares, NTNX reached a trading volume of 6253064 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Nutanix Inc. [NTNX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NTNX shares is $32.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NTNX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cleveland Research have made an estimate for Nutanix Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on June 30, 2022, representing the official price target for Nutanix Inc. stock. On May 26, 2022, analysts decreased their price target for NTNX shares from 54 to 22.

The Average True Range (ATR) for Nutanix Inc. is set at 0.99, with the Price to Sales ratio for NTNX stock in the period of the last 12 months amounting to 3.71. Price to Free Cash Flow for NTNX in the course of the last twelve months was 91.79 with Quick ratio for the last quarter at 1.50.

How has NTNX stock performed recently?

Nutanix Inc. [NTNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.19. With this latest performance, NTNX shares dropped by -9.37% in over the last four-week period, additionally plugging by 21.84% over the last 6 months – not to mention a rise of 5.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NTNX stock in for the last two-week period is set at 35.66, with the RSI for the last a single of trading hit 28.07, and the three-weeks RSI is set at 40.61 for Nutanix Inc. [NTNX]. The present Moving Average for the last 50 days of trading for this stock 27.66, while it was recorded at 28.18 for the last single week of trading, and 22.92 for the last 200 days.

Nutanix Inc. [NTNX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Nutanix Inc. [NTNX] shares currently have an operating margin of -28.19 and a Gross Margin at +79.53. Nutanix Inc.’s Net Margin is presently recorded at -50.45.

Nutanix Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.

Insider trade positions for Nutanix Inc. [NTNX]

There are presently around $4,892 million, or 78.10% of NTNX stock, in the hands of institutional investors. The top three institutional holders of NTNX stocks are: FMR LLC with ownership of 34,516,589, which is approximately 1.356% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 25,500,892 shares of the stock with an approximate value of $675.77 million in NTNX stocks shares; and GENERATION INVESTMENT MANAGEMENT LLP, currently with $585.13 million in NTNX stock with ownership of nearly 4.84% of the company’s market capitalization.

Positions in Nutanix Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 179 institutional holders increased their position in Nutanix Inc. [NASDAQ:NTNX] by around 22,977,499 shares. Additionally, 139 investors decreased positions by around 15,507,959 shares, while 42 investors held positions by with 146,108,581 shares. The mentioned changes placed institutional holdings at 184,594,039 shares, according to the latest SEC report filing. NTNX stock had 77 new institutional investments in for a total of 4,119,883 shares, while 37 institutional investors sold positions of 2,136,509 shares during the same period.


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