Set Your Sights On Nutanix Inc (NASDAQ: NTNX)’S Upside Potential

Nutanix Inc (NTNX) concluded trading on Thursday at a closing price of $63.76, with 2.96 million shares of worth about $189.03 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 85.84% during that period and on April 4, 2024 the price saw a gain of about 0.87%. Currently the company’s common shares owned by public are about 244.33M shares, out of which, 243.30M shares are available for trading.

However, the stock later moved at a day high price of 65.16, or with a gain of 0.87%. Stock saw a price change of 2.95% in past 5 days and over the past one month there was a price change of 0.52%. Year-to-date (YTD), NTNX shares are showing a performance of 33.70% which increased to 152.92% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.34 but also hit the highest price of $66.99 during that period. The average intraday trading volume for Nutanix Inc shares is 2.87 million. The stock is currently trading 0.50% above its 20-day simple moving average (SMA20), while that difference is up 5.84% for SMA50 and it goes to 49.87% higher than SMA200.

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Nutanix Inc (NASDAQ: NTNX) currently have 244.33M outstanding shares and institutions hold larger chunk of about 83.57% of that.

The stock has a current market capitalization of $15.58B and its 3Y-monthly beta is at 1.27. It has posted earnings per share of -$0.31 in the same period. It has Quick Ratio of 1.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NTNX, volatility over the week remained 3.46% while standing at 3.47% over the month.

Stock’s fiscal year EPS is expected to rise by 78.39% while it is estimated to increase by 21.93% in next year.

Coverage by Needham stated Nutanix Inc (NTNX) stock as a Buy in their note to investors on November 30, 2023, suggesting a price target of $54 for the stock. Stock get an Overweight rating from Barclays on June 30, 2022.

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