Nutanix (NASDAQ:NTNX) Issues Earnings Results, Beats Expectations By $0.12 EPS

Nutanix (NASDAQ:NTNX) issued its quarterly earnings results on Tuesday. The technology company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.12, MarketWatch Earnings reports. The company had revenue of $378.50 million for the quarter, compared to analyst estimates of $367.83 million. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.88) EPS. Nutanix updated its Q2 2022 guidance to EPS and its FY 2022 guidance to EPS.

NTNX stock traded down $0.50 during trading on Tuesday, hitting $32.58. The company had a trading volume of 3,550,086 shares, compared to its average volume of 2,084,214. The business has a 50-day moving average of $36.64 and a 200-day moving average of $36.13. Nutanix has a one year low of $25.15 and a one year high of $44.50. The stock has a market cap of $6.98 billion, a PE ratio of -6.50 and a beta of 1.63.

Several brokerages have commented on NTNX. Northland Securities boosted their target price on Nutanix from $52.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, September 2nd. Morgan Stanley reissued a “hold” rating and set a $41.00 target price on shares of Nutanix in a research note on Friday, August 27th. Piper Sandler boosted their target price on Nutanix from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, September 2nd. Zacks Investment Research downgraded Nutanix from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Monday, August 16th. Finally, JMP Securities boosted their target price on Nutanix from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, September 2nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.33.

In other Nutanix news, CFO Duston Williams sold 19,336 shares of the stock in a transaction that occurred on Thursday, September 16th. The stock was sold at an average price of $41.74, for a total transaction of $807,084.64. Following the transaction, the chief financial officer now directly owns 256,284 shares in the company, valued at approximately $10,697,294.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tyler Wall sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 6th. The stock was sold at an average price of $37.97, for a total value of $2,278,200.00. The disclosure for this sale can be found here. Insiders sold 173,044 shares of company stock worth $6,792,459 over the last quarter. 0.92% of the stock is currently owned by company insiders.

About Nutanix

Nutanix, Inc engages in the provision of enterprise virtualization and storage solutions. It engages in cloud operating system that converges traditional silos of server, virtualization, storage, and networking into one integrated solution and unifies private and public cloud into a single software fabric.

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Earnings History for Nutanix (NASDAQ:NTNX)

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