Brokers expect Nutanix, Inc. (NASDAQ:NTNX) to post quarterly sales of $398.30 million
Wall Street analysts expect Nutanix, Inc. (NASDAQ:NTNX – Get Rating) to report sales of $398.30 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts provided earnings estimates for Nutanix, with estimates ranging from $397.00 million to $400.60 million. Nutanix recorded sales of $344.51 million in the same quarter last year, suggesting a positive year-over-year growth rate of 15.6%. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Nutanix to report annual revenue of $1.63 billion for the current fiscal year. For the next fiscal year, analysts expect the company to post sales of $1.94 billion, with estimates ranging from $1.88 billion to $1.99 billion. Zacks sales calculations are an average average based on a survey of sell-side research analysts who provide coverage for Nutanix.
Nutanix (NASDAQ:NTNX – Get Rating) last released its results on Wednesday, March 2. The technology company reported ($0.03) earnings per share for the quarter, beating analyst consensus estimates of ($0.17) by $0.14. The company posted revenue of $413.08 million for the quarter, versus analyst estimates of $406.75 million. During the same period last year, the company made ($0.79) earnings per share. The company’s quarterly revenue increased by 19.3% compared to the same quarter last year.
A number of research analysts have commented on the headline. KeyCorp assumed coverage for Nutanix shares in a Tuesday, Jan. 18, research note. They set an “overweight” rating and a price target of $39.00 for the company. StockNews.com began covering Nutanix shares in a research note on Thursday, March 31. They set a “holding” rating for the company. Wells Fargo & Company cut its price target on Nutanix stock from $40.00 to $35.00 and set an “equal weight” rating for the company in a Thursday, March 3 research note. Morgan Stanley cut its price target on Nutanix shares from $32.00 to $31.00 and set an “equal weight” rating for the company in a Tuesday, April 12 research note. Finally, Needham & Company LLC reduced its price target on Nutanix shares from $71.00 to $34.00 and set a “buy” rating for the company in a Thursday, March 3 research note. Five investment analysts gave the stock a hold rating and ten gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $42.18.
NTNX was down $1.06 in Friday’s midday session, hitting $26.01. 1,229,483 shares of the company were traded, against an average volume of 1,605,979. The company has a market capitalization of $5.74 billion, a price-earnings ratio of -5.46 and a beta of 1, 55. Nutanix has a one-year minimum of $21.99 and a one-year maximum of $44.50. The company has a 50-day simple moving average of $25.93 and a two-hundred-day simple moving average of $30.31.
In other Nutanix news, insider Tyler Wall sold 4,563 shares of the company in a trade on Wednesday, March 16. The shares were sold at an average price of $23.78, for a total transaction of $108,508.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Chief Financial Officer Duston Williams sold 11,594 shares of the company in a trade on Wednesday, March 16. The shares were sold at an average price of $23.78, for a total transaction of $275,705.32. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 82,652 shares of the company worth $1,970,165. Insiders of the company hold 0.92% of the shares of the company.
Several institutional investors and hedge funds have recently increased or reduced their stake in NTNX. CWM LLC bought a new position in Nutanix during Q4 for a value of approximately $32,000. Carroll Investors Inc bought a new position in Nutanix during Q4 worth around $42,000. O Shaughnessy Asset Management LLC increased its stake in Nutanix by 26.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,537 shares of the technology company worth $58,000 after buying 321 additional shares in the last quarter. Loomis Sayles & Co. LP bought a new position in Nutanix during Q4 for a value of approximately $59,000. Finally, Koshinski Asset Management Inc. increased its stake in Nutanix by 23.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 2,902 shares of the technology company worth $92,000 after buying an additional 560 shares last quarter. Institutional investors and hedge funds own 74.27% of the company’s shares.
About Nutanix (Get an evaluation)
Nutanix, Inc provides an enterprise cloud platform in North America, Europe, Asia-Pacific, the Middle East, Latin America and Africa. The company offers Acropolis converged virtualization, enterprise storage services, and network visualization and security services; Acropolis Hypervisor, an enterprise-grade virtualization solution; Nutanix Karbon for automated deployment and management of Kubernetes clusters to simplify provisioning, operations, and lifecycle management of cloud-native environments; and the Nutanix Clusters solution.
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