Nutanix (NASDAQ:NTNX) Releases Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Nutanix (NASDAQ:NTNX) posted its earnings results on Wednesday. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Stock Up 3.6 %

Nutanix stock traded up $2.43 during midday trading on Wednesday, hitting $69.35. 3,513,569 shares of the stock were exchanged, compared to its average volume of 1,851,867. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80. The company has a fifty day simple moving average of $66.37 and a two-hundred day simple moving average of $63.88. The stock has a market capitalization of $18.58 billion, a PE ratio of -198.14, a P/E/G ratio of 11.80 and a beta of 1.17.

Insider Activity

In related news, Director Virginia Gambale sold 6,060 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $64.73, for a total transaction of $392,263.80. Following the sale, the director now owns 45,330 shares of the company’s stock, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $65.85, for a total value of $4,207,880.85. Following the completion of the transaction, the chief executive officer now owns 649,034 shares of the company’s stock, valued at $42,738,888.90. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock worth $12,114,781 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTNX. UBS Group initiated coverage on shares of Nutanix in a research note on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price on the stock. Barclays lifted their price target on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. StockNews.com downgraded Nutanix from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st. Raymond James lowered their price target on Nutanix from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Piper Sandler upped their price target on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.50.

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.