Nutanix, Inc. provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis converges virtualization, enterprise storage services, and networking visualization and security services; Acropolis Hypervisor, an enterprise-grade virtualization solution; Nutanix Karbon for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments; and Nutanix Clusters solution. It also offers Prism Pro; Nutanix Beam, a cloud governance; and Nutanix Calm, an application marketplace, which provides automation services that streamline application lifecycle management and deliver powerful hybrid cloud orchestration. In addition, the company provides Nutanix Files, an enterprise-grade NFS and SMB files services; Nutanix Objects, a S3-compatible object services; Nutanix Era, a database automation and database-as-a-service solution; and Nutanix Frame, a desktop-as-a-service product to deliver virtual apps or desktops to users from multiple public cloud environments and/or an enterprises private cloud datacenter. Further, it offers products support, and consulting and implementation services. It serves customers in a range of industries, including automotive, consumer goods, education, energy, financial services, healthcare, manufacturing, media, public sector, retail, technology, and telecommunications, as well as service providers. The company was incorporated in 2009 and is headquartered in San Jose, California.
Nutanix Stock Up 0.5 %
Shares of NASDAQ:NTNX traded up $0.09 on Friday, reaching $16.91. 1,242,191 shares of the company's stock were exchanged, compared to its average volume of 1,715,805. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -3.63 and a beta of 1.44. Nutanix has a fifty-two week low of $13.44 and a fifty-two week high of $44.50. The business's 50-day moving average is $15.13 and its two-hundred day moving average is $21.64.
Nutanix (NASDAQ:NTNX - Get Rating) last issued its earnings results on Wednesday, May 25th. The technology company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.65) by $0.23. The business had revenue of $403.70 million for the quarter, compared to analyst estimates of $397.90 million. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the company posted ($0.87) earnings per share. Analysts predict that Nutanix will post -2.24 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have recently weighed in on NTNX. Needham & Company LLC decreased their target price on shares of Nutanix from $34.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, May 26th. Susquehanna Bancshares decreased their target price on shares of Nutanix to $25.00 in a research note on Thursday, May 26th. William Blair downgraded shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 26th. Bank of America downgraded shares of Nutanix from a "buy" rating to a "neutral" rating and decreased their target price for the company from $54.00 to $22.00 in a research note on Thursday, May 26th. Finally, Royal Bank of Canada decreased their target price on shares of Nutanix from $45.00 to $21.00 in a research note on Thursday, May 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Nutanix currently has a consensus rating of "Moderate Buy" and an average price target of $27.45.
Insiders Place Their Bets
In other Nutanix news, CEO Rajiv Ramaswami sold 50,134 shares of the stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $13.97, for a total transaction of $700,371.98. Following the sale, the chief executive officer now directly owns 223,392 shares of the company's stock, valued at $3,120,786.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO David Sangster sold 17,285 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $13.97, for a total value of $241,471.45. Following the sale, the chief operating officer now owns 177,078 shares of the company's stock, valued at approximately $2,473,779.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajiv Ramaswami sold 50,134 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $13.97, for a total transaction of $700,371.98. Following the completion of the sale, the chief executive officer now directly owns 223,392 shares in the company, valued at approximately $3,120,786.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,196 shares of company stock valued at $1,193,438. Company insiders own 0.92% of the company's stock.
