Brokerages forecast that Nutanix Inc. (NASDAQ:NTNX) will post $265.74 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Nutanix’s earnings, with the lowest sales estimate coming in at $264.80 million and the highest estimate coming in at $266.70 million. Nutanix reported sales of $166.81 million during the same quarter last year, which indicates a positive year over year growth rate of 59.3%. The firm is scheduled to report its next earnings results on Tuesday, December 5th.
On average, analysts expect that Nutanix will report full-year sales of $265.74 million for the current year, with estimates ranging from $1.14 billion to $1.21 billion. For the next financial year, analysts expect that the firm will post sales of $1.53 billion per share, with estimates ranging from $1.45 billion to $1.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Nutanix.
Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.05. The business had revenue of $226.10 million during the quarter, compared to analysts’ expectations of $216.00 million. Nutanix had a negative return on equity of 295.56% and a negative net margin of 59.72%. Nutanix’s revenue for the quarter was up 61.7% compared to the same quarter last year.
A number of analysts have weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and set a $31.00 price objective (up from $28.00) on shares of Nutanix in a research report on Monday. Maxim Group reissued a “buy” rating and issued a $41.00 price target on shares of Nutanix in a report on Friday. Bank of America Corporation raised their price target on Nutanix from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, September 18th. Piper Jaffray Companies reissued an “overweight” rating and issued a $28.00 price target on shares of Nutanix in a report on Thursday, September 14th. Finally, Zacks Investment Research raised Nutanix from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Nutanix currently has an average rating of “Buy” and an average target price of $31.19.
In related news, SVP Rajiv Mirani sold 25,000 shares of Nutanix stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $20.05, for a total transaction of $501,250.00. Following the completion of the transaction, the senior vice president now directly owns 255,600 shares of the company’s stock, valued at $5,124,780. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Parks sold 617,411 shares of Nutanix stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $20.23, for a total value of $12,490,224.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,239,124 shares of company stock valued at $47,939,733.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in Nutanix by 320.6% during the second quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock worth $242,686,000 after buying an additional 9,180,123 shares in the last quarter. Sapphire Ventures L.L.C. purchased a new position in Nutanix during the first quarter worth $51,506,000. Franklin Resources Inc. purchased a new position in Nutanix during the second quarter worth $55,063,000. Raging Capital Management LLC purchased a new position in Nutanix during the first quarter worth $27,315,000. Finally, Vanguard Group Inc. increased its position in Nutanix by 65.5% during the first quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock worth $61,480,000 after buying an additional 1,295,813 shares in the last quarter. 32.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Nutanix (NASDAQ NTNX) opened at 23.19 on Tuesday. Nutanix has a 52-week low of $21.21 and a 52-week high of $46.78. The stock’s market capitalization is $3.59 billion. The stock has a 50 day moving average price of $21.91 and a 200-day moving average price of $21.91.
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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