$260.00 Million in Sales Expected for Nutanix Inc. (NTNX) This Quarter
Wall Street analysts forecast that Nutanix Inc. (NASDAQ:NTNX) will announce sales of $260.00 million for the current quarter, according to Zacks. Seven analysts have made estimates for Nutanix’s earnings, with the highest sales estimate coming in at $266.70 million and the lowest estimate coming in at $244.30 million. Nutanix reported sales of $166.81 million during the same quarter last year, which would suggest a positive year over year growth rate of 55.9%. The company is scheduled to announce its next earnings results on Tuesday, December 5th.
According to Zacks, analysts expect that Nutanix will report full-year sales of $260.00 million for the current financial year, with estimates ranging from $1.06 billion to $1.21 billion. For the next year, analysts expect that the firm will report sales of $1.50 billion per share, with estimates ranging from $1.37 billion to $1.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Nutanix.
Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.05. The firm had revenue of $226.10 million during the quarter, compared to the consensus estimate of $216 million. Nutanix had a negative return on equity of 248.46% and a negative net margin of 59.72%. Nutanix’s revenue was up 61.7% compared to the same quarter last year.
A number of equities analysts recently commented on NTNX shares. Goldman Sachs Group, Inc. (The) upgraded Nutanix from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, May 22nd. Credit Suisse Group reiterated an “outperform” rating and issued a $38.00 price objective on shares of Nutanix in a research note on Thursday, May 25th. Robert W. Baird reiterated a “buy” rating on shares of Nutanix in a research note on Friday, May 26th. Maxim Group reiterated a “buy” rating and issued a $41.00 price objective on shares of Nutanix in a research note on Friday, May 26th. Finally, Piper Jaffray Companies set a $27.00 price objective on Nutanix and gave the company a “buy” rating in a research note on Saturday, May 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.69.
In other news, SVP Rajiv Mirani sold 4,600 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $20.02, for a total transaction of $92,092.00. Following the sale, the senior vice president now owns 255,600 shares of the company’s stock, valued at approximately $5,117,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Duston Williams sold 80,244 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $17.23, for a total value of $1,382,604.12. The disclosure for this sale can be found here. Insiders have sold a total of 2,243,967 shares of company stock worth $47,263,903 in the last three months.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Nutanix by 320.6% during the 2nd quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock worth $242,686,000 after acquiring an additional 9,180,123 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Nutanix by 65.5% during the 1st quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock worth $61,480,000 after acquiring an additional 1,295,813 shares in the last quarter. Sapphire Ventures L.L.C. acquired a new stake in shares of Nutanix during the 1st quarter worth about $51,506,000. Franklin Resources Inc. acquired a new stake in shares of Nutanix during the 2nd quarter worth about $55,063,000. Finally, Raging Capital Management LLC acquired a new stake in shares of Nutanix during the 1st quarter worth about $27,315,000. 32.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nutanix (NASDAQ NTNX) opened at 22.16 on Friday. Nutanix has a 12-month low of $14.38 and a 12-month high of $46.78. The company has a 50 day moving average price of $22.00 and a 200 day moving average price of $20.06. The company’s market capitalization is $3.36 billion.
Nutanix Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nutanix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.