Nutanix (NASDAQ:NTNX) Releases Earnings Results, Misses Estimates By $0.23 EPS

Nutanix (NASDAQ:NTNX) posted its quarterly earnings results on Wednesday. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.23), Zacks reports. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.28%.

Nutanix Stock Up 3.6 %

Shares of Nutanix stock traded up $2.43 on Wednesday, hitting $69.35. The stock had a trading volume of 3,650,680 shares, compared to its average volume of 1,889,981. The stock has a market cap of $18.58 billion, a price-to-earnings ratio of -198.14, a PEG ratio of 11.80 and a beta of 1.17. Nutanix has a one year low of $43.35 and a one year high of $75.80. The stock’s 50-day simple moving average is $66.37 and its two-hundred day simple moving average is $63.88.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James dropped their price target on shares of Nutanix from $83.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Morgan Stanley upped their price target on Nutanix from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com cut Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st. Barclays lifted their price objective on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Piper Sandler increased their target price on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.50.

Insider Activity at Nutanix

In other Nutanix news, Director Virginia Gambale sold 6,060 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $64.73, for a total transaction of $392,263.80. Following the transaction, the director now owns 45,330 shares in the company, valued at approximately $2,934,210.90. This represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 63,901 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $65.85, for a total transaction of $4,207,880.85. Following the completion of the sale, the chief executive officer now owns 649,034 shares in the company, valued at $42,738,888.90. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,917 shares of company stock worth $12,114,781 in the last 90 days. Company insiders own 6.80% of the company’s stock.

About Nutanix

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.