Wall Street brokerages expect that Nutanix Inc (NASDAQ:NTNX) will report $311.52 million in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for Nutanix’s earnings, with estimates ranging from $286.70 million to $339.50 million. Nutanix posted sales of $314.77 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The firm is expected to issue its next quarterly earnings report on Monday, November 23rd.
According to Zacks, analysts expect that Nutanix will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.48 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.52 billion, with estimates ranging from $1.25 billion to $1.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Nutanix.
Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Thursday, August 27th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.28. Nutanix had a negative return on equity of 1,175,319.00% and a negative net margin of 66.75%. The business had revenue of $327.87 million during the quarter, compared to analysts’ expectations of $319.46 million. During the same quarter in the previous year, the firm posted ($0.57) EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis.
Several equities research analysts have commented on NTNX shares. JMP Securities cut their price objective on Nutanix from $52.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Morgan Stanley boosted their target price on Nutanix from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. lowered their target price on Nutanix from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. OTR Global cut Nutanix to a “positive” rating in a report on Tuesday, May 19th. Finally, Northland Securities initiated coverage on Nutanix in a report on Monday, August 10th. They set an “outperform” rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.61.
In other Nutanix news, insider Tyler Wall sold 8,219 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $23.12, for a total transaction of $190,023.28. Following the transaction, the insider now directly owns 62,795 shares in the company, valued at $1,451,820.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Bostrom sold 25,761 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $28.21, for a total value of $726,717.81. The disclosure for this sale can be found here. Insiders sold 85,674 shares of company stock worth $2,165,766 over the last quarter. 9.79% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Nutanix by 3.0% during the second quarter. Vanguard Group Inc. now owns 16,379,873 shares of the technology company’s stock worth $388,285,000 after purchasing an additional 478,219 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Nutanix by 27.0% during the first quarter. Clearbridge Investments LLC now owns 11,675,195 shares of the technology company’s stock worth $184,468,000 after purchasing an additional 2,481,138 shares in the last quarter. FIL Ltd lifted its stake in Nutanix by 1.5% during the second quarter. FIL Ltd now owns 4,920,477 shares of the technology company’s stock worth $116,640,000 after purchasing an additional 71,150 shares in the last quarter. First Trust Advisors LP lifted its stake in Nutanix by 124.4% during the second quarter. First Trust Advisors LP now owns 3,714,556 shares of the technology company’s stock worth $88,054,000 after purchasing an additional 2,059,075 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Nutanix by 684.0% during the first quarter. Primecap Management Co. CA now owns 2,569,550 shares of the technology company’s stock worth $40,599,000 after acquiring an additional 2,241,800 shares during the period. Institutional investors own 69.79% of the company’s stock.
NASDAQ:NTNX traded down $1.04 during trading hours on Thursday, hitting $25.07. 3,901,900 shares of the stock were exchanged, compared to its average volume of 6,067,575. Nutanix has a 52-week low of $11.31 and a 52-week high of $37.86. The firm’s fifty day moving average price is $22.67 and its 200 day moving average price is $21.97. The company has a market cap of $4.88 billion, a P/E ratio of -5.57 and a beta of 2.02.
Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.
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