Nutanix (NASDAQ:NTNX) Posts Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Nutanix beat quarterly expectations: EPS was $0.60 versus the $0.49 consensus, while revenue reached $757.08 million, exceeding estimates of $738.27 million.
• Shares fell 1.6% to $65.39 after the results. Nutanix has a $17.68 billion market capitalization, a P/E ratio of 68.83, and trades near analysts’ average price target of $64.21.
• Institutional investors and hedge funds own 85.25% of the stock, while analysts maintain a “Moderate Buy” consensus rating, including one Strong Buy, nine Buy, and eight Hold ratings.

Nutanix (NASDAQ:NTNX - Get Free Report) released its quarterly earnings results on Wednesday. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.49 by $0.11, FiscalAI reports. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The firm had revenue of $757.08 million for the quarter, compared to analyst estimates of $738.27 million.

Nutanix Trading Down 1.6%

Shares of NASDAQ:NTNX traded down $1.05 during midday trading on Wednesday, hitting $65.39. 4,450,211 shares of the stock were exchanged, compared to its average volume of 4,022,938. The stock has a market cap of $17.68 billion, a P/E ratio of 68.83, a PEG ratio of 4.27 and a beta of 0.60. Nutanix has a twelve month low of $34.01 and a twelve month high of $82.42. The company has a 50 day moving average price of $56.87 and a 200-day moving average price of $47.67.

Hedge Funds Weigh In On Nutanix

A number of institutional investors have recently made changes to their positions in the stock. GW&K Investment Management LLC lifted its stake in shares of Nutanix by 78.7% during the fourth quarter. GW&K Investment Management LLC now owns 981 shares of the technology company's stock valued at $51,000 after buying an additional 432 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Nutanix by 135.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,059 shares of the technology company's stock valued at $79,000 after purchasing an additional 609 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Nutanix by 52.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,142 shares of the technology company's stock worth $59,000 after buying an additional 393 shares during the period. Summit Securities Group LLC boosted its stake in Nutanix by 26.4% in the 4th quarter. Summit Securities Group LLC now owns 1,356 shares of the technology company's stock worth $70,000 after buying an additional 283 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Nutanix by 26.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,556 shares of the technology company's stock valued at $80,000 after buying an additional 330 shares during the period. 85.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Nutanix in a research note on Tuesday. Northland Securities set a $47.00 price objective on shares of Nutanix in a research note on Thursday, May 28th. Zacks Research raised shares of Nutanix from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. The Goldman Sachs Group reissued a "buy" rating on shares of Nutanix in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Nutanix from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.21.

Nutanix Company Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company's product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.

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