Nutanix, Inc. (NASDAQ:NTNX) Forecasted to Post FY2024 Earnings of ($0.10) Per Share

Nutanix, Inc. (NASDAQ:NTNX - Free Report) - Stock analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Nutanix in a research note issued on Wednesday, March 20th. Zacks Research analyst R. Department now anticipates that the technology company will post earnings per share of ($0.10) for the year, up from their prior forecast of ($0.24). The consensus estimate for Nutanix's current full-year earnings is ($0.07) per share. Zacks Research also issued estimates for Nutanix's Q4 2024 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.29) EPS, Q1 2026 earnings at ($0.01) EPS, Q2 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.23) EPS.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The company had revenue of $565.23 million for the quarter, compared to the consensus estimate of $551.82 million.

Several other brokerages have also issued reports on NTNX. StockNews.com lowered Nutanix from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 12th. Susquehanna lifted their price objective on Nutanix from $48.00 to $60.00 and gave the stock a "positive" rating in a report on Friday, December 1st. Piper Sandler lifted their price objective on Nutanix from $67.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on Nutanix from $54.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, February 26th. Finally, William Blair upgraded Nutanix from a "market perform" rating to an "outperform" rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.83.

Nutanix Stock Down 1.3 %

NASDAQ:NTNX traded down $0.83 during trading hours on Monday, hitting $63.62. 3,292,510 shares of the company traded hands, compared to its average volume of 2,935,706. Nutanix has a one year low of $23.34 and a one year high of $66.99. The company has a market cap of $15.54 billion, a PE ratio of -176.72 and a beta of 1.29. The firm's 50-day simple moving average is $59.28 and its 200-day simple moving average is $47.08.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Nutanix during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in Nutanix in the fourth quarter worth $30,000. BluePath Capital Management LLC purchased a new stake in Nutanix in the third quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new stake in Nutanix in the fourth quarter worth $40,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in Nutanix in the third quarter worth $42,000. 78.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Tyler Wall sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the completion of the sale, the insider now owns 13,168 shares in the company, valued at approximately $819,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven J. Gomo sold 25,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the transaction, the director now directly owns 3,962 shares of the company's stock, valued at $254,003.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tyler Wall sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $62.25, for a total value of $933,750.00. Following the transaction, the insider now directly owns 13,168 shares in the company, valued at $819,708. The disclosure for this sale can be found here. Insiders sold 76,477 shares of company stock worth $4,836,249 in the last quarter. 0.46% of the stock is owned by insiders.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.