Nutanix Inc [NTNX] moved down -0.46: Why It’s Important

Nutanix Inc [NASDAQ: NTNX] closed the trading session at $62.48. The company report on March 20, 2024 at 4:37 PM that Nutanix Files Theft of Intellectual Property Lawsuit Against Tessell, Inc.

Nutanix asserts willful copyright and patent infringement, including theft of Nutanix resources and its database service source code.

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Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced that it filed a lawsuit in the U.S. District Court in San Jose, alleging that Tessell, Inc. engaged in willful copyright and patent infringement, including theft of Nutanix’s source code and intellectual property related to the Company’s database service offering.

The stocks have a year to date performance of 31.01 percent and weekly performance of -2.11 percent. The stock has been moved at 85.13 percent over the last six months. The stock has performed 14.79 percent around the most recent 30 days and changed 32.94 percent over the most recent 3-months.

If compared to the average trading volume of 2.76M shares, NTNX reached to a volume of 3302043 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $67.26 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 1.65. 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.

William Blair have made an estimate for Nutanix Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 17, 2024. While these analysts kept the previous recommendation, Needham raised their target price from $44 to $54. The new note on the price target was released on November 30, 2023, representing the official price target for Nutanix Inc stock. Previously, the target price had yet another raise from $39 to $50, while BofA Securities kept a Buy rating on NTNX stock.

The Average True Range (ATR) for Nutanix Inc is set at 2.19, with the Price to Sales ratio for NTNX stock in the period of the last 12 months amounting to 7.56. Price to Free Cash Flow for NTNX in the course of the last twelve months was 38.82 with Quick ratio for the last quarter at 1.67.

NTNX stock trade performance evaluation

Nutanix Inc [NTNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.11. With this latest performance, NTNX shares gained by 14.79% in over the last four-week period, additionally plugging by 85.13% over the last 6 months – not to mention a rise of 142.74% 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 53.33, with the RSI for the last a single of trading hit 48.88, and the three-weeks RSI is set at 56.15 for Nutanix Inc [NTNX]. The present Moving Average for the last 50 days of trading for this stock 58.51, while it was recorded at 63.09 for the last single week of trading, and 41.22 for the last 200 days.

Nutanix Inc [NTNX]: An insightful look at the core fundamentals

Nutanix Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.67 and a Current Ratio set at 1.67.

Earnings per share (EPS) analysis for Nutanix Inc [NTNX] stock

With the latest financial reports released by the company, Nutanix Inc posted 0.04/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NTNX.

Nutanix Inc [NTNX]: Institutional Ownership

The top three institutional holders of NTNX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NTNX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NTNX stock with ownership which is approximately 5.8325%.