Nutanix Inc [NASDAQ: NTNX] loss -2.01% or -1.32 points to close at $64.25 with a heavy trading volume of 4744481 shares. The company report on April 8, 2024 at 9:00 AM that Nutanix Announces 2024.NEXT Event Lineup: Say “Yes” to Hybrid Multicloud.
Taking place May 21-23 in Barcelona, the event will feature executive keynotes, company news, customer insights, hands-on labs, and sessions for keeping up in a hybrid multicloud world.
Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced programming for its.NEXT 2024 event, which is set to take place in Barcelona, Spain from May 21-23.
The daily chart for NTNX points out that the company has recorded 75.45% gains over the past six months.
If we look at the average trading volume of 2.79M shares, NTNX reached to a volume of 4744481 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $68.17 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 1.61. 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 2.36, with the Price to Sales ratio for NTNX stock in the period of the last 12 months amounting to 7.77. Price to Free Cash Flow for NTNX in the course of the last twelve months was 39.92 with Quick ratio for the last quarter at 1.67.
Trading performance analysis for NTNX stock
Nutanix Inc [NTNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.77. With this latest performance, NTNX shares gained by 0.69% in over the last four-week period, additionally plugging by 75.45% over the last 6 months – not to mention a rise of 155.26% 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 54.00, with the RSI for the last a single of trading hit 52.38, and the three-weeks RSI is set at 55.51 for Nutanix Inc [NTNX]. The present Moving Average for the last 50 days of trading for this stock 61.31, while it was recorded at 65.23 for the last single week of trading, and 43.65 for the last 200 days.
Nutanix Inc [NTNX]: A deeper dive into fundamental analysis
Nutanix Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.67 and a Current Ratio set at 1.67.
Nutanix Inc [NTNX]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at Nutanix Inc [NTNX]
The top three institutional holders of NTNX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NTNX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NTNX stock with ownership which is approximately 5.8386%.
