Brokerages forecast that Nutanix, Inc. (NASDAQ:NTNX) will report $329.07 million in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Nutanix's earnings, with estimates ranging from $317.50 million to $349.80 million. Nutanix reported sales of $346.77 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.1%. The business is scheduled to report its next earnings report on Wednesday, February 24th.
On average, analysts expect that Nutanix will report full year sales of $1.30 billion for the current year, with estimates ranging from $1.25 billion to $1.35 billion. For the next year, analysts anticipate that the company will post sales of $1.41 billion, with estimates ranging from $1.25 billion to $1.55 billion. Zacks' sales calculations are an average based on a survey of research firms that cover Nutanix.
Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Sunday, November 22nd. The technology company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.13. The firm had revenue of $312.75 million for the quarter, compared to analyst estimates of $298.52 million. Nutanix had a negative return on equity of 1,175,319.00% and a negative net margin of 69.59%.
NTNX has been the subject of several recent analyst reports. OTR Global upgraded Nutanix from a "negative" rating to a "positive" rating in a research note on Thursday, November 19th. Northland Securities raised their price target on Nutanix from $31.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, November 24th. KeyCorp raised their price target on Nutanix from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, November 24th. Morgan Stanley raised their price target on Nutanix from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, December 16th. Finally, Needham & Company LLC raised their price target on Nutanix from $30.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, November 24th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of "Buy" and a consensus target price of $33.20.
In other Nutanix news, insider Tyler Wall sold 14,889 shares of Nutanix stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $31.73, for a total value of $472,427.97. Following the sale, the insider now owns 89,398 shares of the company's stock, valued at approximately $2,836,598.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Boynton sold 4,982 shares of Nutanix stock in a transaction dated Friday, December 11th. The shares were sold at an average price of $31.08, for a total value of $154,840.56. The disclosure for this sale can be found here. Insiders sold a total of 81,380 shares of company stock worth $2,567,785 in the last three months. Company insiders own 6.66% of the company's stock.
Several large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. acquired a new stake in shares of Nutanix in the fourth quarter valued at about $233,000. Hohimer Wealth Management LLC bought a new position in Nutanix during the fourth quarter worth about $219,000. Schonfeld Strategic Advisors LLC bought a new position in Nutanix during the third quarter worth about $542,000. Public Employees Retirement System of Ohio grew its holdings in Nutanix by 15.1% during the third quarter. Public Employees Retirement System of Ohio now owns 76,550 shares of the technology company's stock worth $1,698,000 after purchasing an additional 10,047 shares during the period. Finally, Paloma Partners Management Co grew its holdings in Nutanix by 24.9% during the third quarter. Paloma Partners Management Co now owns 28,819 shares of the technology company's stock worth $639,000 after purchasing an additional 5,741 shares during the period. 66.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nutanix stock opened at $30.78 on Monday. The firm has a market capitalization of $6.20 billion, a PE ratio of -6.69 and a beta of 1.97. Nutanix has a 12-month low of $11.31 and a 12-month high of $37.86. The stock's fifty day moving average is $31.00 and its 200-day moving average is $25.54.
Nutanix, Inc develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis, an enterprise cloud platform that converges virtualization, enterprise storage services, and networking services; Nutanix Prism, a consumer-grade control plane, which provides management and analytics; and Acropolis Hypervisor, an enterprise-grade virtualization solution.
See Also: FAANG Stocks
Get a free copy of the Zacks research report on Nutanix (NTNX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]