Nutanix Inc. (NTNX) Expected to Announce Quarterly Sales of $266.73 Million
Equities analysts predict that Nutanix Inc. (NASDAQ:NTNX) will post $266.73 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Nutanix’s earnings. The lowest sales estimate is $265.00 million and the highest is $270.60 million. Nutanix reported sales of $166.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 59.9%. The business is scheduled to issue its next earnings results after the market closes on Thursday, November 30th.
On average, analysts expect that Nutanix will report full year sales of $266.73 million for the current financial year, with estimates ranging from $1.14 billion to $1.21 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.53 billion per share, with estimates ranging from $1.45 billion to $1.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Nutanix.
Nutanix (NASDAQ:NTNX) last announced its earnings results on Thursday, August 31st. The technology company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $226.10 million during the quarter, compared to analyst estimates of $216.00 million. Nutanix had a negative net margin of 59.72% and a negative return on equity of 295.56%. The firm’s quarterly revenue was up 61.7% on a year-over-year basis.
A number of brokerages have weighed in on NTNX. Vetr lowered shares of Nutanix from a “strong-buy” rating to a “buy” rating and set a $33.55 target price for the company. in a research note on Tuesday. Needham & Company LLC assumed coverage on shares of Nutanix in a research note on Wednesday. They set a “buy” rating and a $45.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Nutanix in a research report on Tuesday, November 14th. They set an “outperform” rating and a $40.00 price objective for the company. ValuEngine downgraded shares of Nutanix from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Raymond James Financial, Inc. raised shares of Nutanix from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nutanix presently has a consensus rating of “Buy” and an average target price of $31.11.
Shares of Nutanix (NASDAQ NTNX) opened at $33.18 on Thursday. Nutanix has a 12 month low of $14.38 and a 12 month high of $34.75.
In related news, Director Jeffrey T. Parks sold 30,089 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $29.27, for a total value of $880,705.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Sangster sold 27,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $21.13, for a total transaction of $570,510.00. Following the completion of the sale, the executive vice president now directly owns 103,500 shares in the company, valued at $2,186,955. The disclosure for this sale can be found here. Insiders have sold a total of 1,738,869 shares of company stock worth $48,256,598 over the last 90 days. Corporate insiders own 19.81% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC purchased a new stake in Nutanix in the 3rd quarter worth about $453,000. Janney Montgomery Scott LLC purchased a new stake in Nutanix in the 3rd quarter worth about $441,000. Cubist Systematic Strategies LLC purchased a new stake in Nutanix in the 3rd quarter worth about $1,117,000. Granahan Investment Management Inc. MA increased its position in shares of Nutanix by 24.5% during the third quarter. Granahan Investment Management Inc. MA now owns 126,645 shares of the technology company’s stock worth $2,836,000 after acquiring an additional 24,907 shares during the period. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Nutanix during the third quarter worth approximately $215,000. 32.81% of the stock is currently owned by institutional investors.
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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