Nutanix (NASDAQ:NTNX) Announces Earnings Results, Misses Estimates By $0.18 EPS

Nutanix (NASDAQ:NTNX - Get Free Report) announced its quarterly earnings data on Wednesday. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18), Zacks reports. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.28%. The business had revenue of $638.98 million during the quarter, compared to analyst estimates of $626.12 million. During the same quarter in the prior year, the company posted $0.28 EPS. The company's quarterly revenue was up 21.8% compared to the same quarter last year.

Nutanix Price Performance

Shares of NASDAQ:NTNX traded down $0.59 during trading on Friday, hitting $75.26. The company had a trading volume of 4,886,279 shares, compared to its average volume of 2,542,390. The company has a fifty day simple moving average of $70.30 and a two-hundred day simple moving average of $68.80. Nutanix has a one year low of $43.35 and a one year high of $83.36. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of -215.03, a price-to-earnings-growth ratio of 11.80 and a beta of 0.70.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 61,057 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.00, for a total value of $4,823,503.00. Following the transaction, the chief executive officer now directly owns 497,309 shares of the company's stock, valued at $39,287,411. This trade represents a 10.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Groen Max Pieter De sold 5,500,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.51, for a total value of $409,805,000.00. Following the completion of the transaction, the director now owns 11,354,032 shares in the company, valued at $845,988,924.32. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,568,797 shares of company stock worth $415,209,003 in the last three months. Corporate insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NTNX shares. Piper Sandler reiterated an "overweight" rating and set a $88.00 price target (up previously from $76.00) on shares of Nutanix in a research report on Thursday. Oppenheimer lifted their price target on Nutanix from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Raymond James lowered shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their price objective on Nutanix from $83.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, Northland Securities upgraded Nutanix from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $77.00 to $97.00 in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $90.38.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.