Nutanix (NASDAQ:NTNX) Announces Quarterly Earnings Results

Nutanix (NASDAQ:NTNX) announced its quarterly earnings data on Wednesday. The technology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.23), Zacks reports. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.28%.

Nutanix Price Performance

Shares of NASDAQ NTNX traded up $2.43 during mid-day trading on Wednesday, hitting $69.35. 3,513,569 shares of the company’s stock traded hands, compared to its average volume of 1,851,867. The company’s 50-day moving average is $66.37 and its two-hundred day moving average is $63.88. The company has a market capitalization of $18.58 billion, a P/E ratio of -198.14, a PEG ratio of 11.80 and a beta of 1.17. Nutanix has a 1 year low of $43.35 and a 1 year high of $75.80.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Oppenheimer assumed coverage on Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price for the company. StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st. UBS Group began coverage on shares of Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price for the company. Needham & Company LLC raised their target price on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Raymond James lowered their price objective on Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.50.

Insider Transactions at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 95,852 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $70.00, for a total value of $6,709,640.00. Following the completion of the sale, the chief executive officer now directly owns 540,463 shares of the company’s stock, valued at $37,832,410. This trade represents a 15.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Gambale sold 6,060 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares of the company’s stock, valued at $2,934,210.90. This trade represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,917 shares of company stock valued at $12,114,781. 6.80% of the stock is currently owned by corporate insiders.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.