Nutanix (NTNX) Set to Announce Quarterly Earnings on Wednesday

Nutanix (NASDAQ:NTNX) is set to issue its quarterly earnings data after the market closes on Wednesday, May 29th. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Nutanix has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analyst estimates of $551.82 million. On average, analysts expect Nutanix to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Nutanix Stock Performance

Shares of NTNX opened at $72.85 on Monday. The stock has a 50-day moving average of $64.38 and a two-hundred day moving average of $55.90. Nutanix has a one year low of $26.47 and a one year high of $73.69. The stock has a market cap of $17.80 billion, a P/E ratio of -202.36 and a beta of 1.27.

Insider Activity

In related news, insider Tyler Wall sold 15,000 shares of the company’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 transaction, the insider now directly owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Tyler Wall sold 15,000 shares of the company’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 transaction, the insider now directly owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the transaction, the director now owns 3,962 shares in the company, valued at $254,003.82. The disclosure for this sale can be found here. Insiders sold 129,506 shares of company stock worth $8,270,938 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

NTNX has been the subject of a number of research reports. Susquehanna lifted their price target on Nutanix from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on Nutanix from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Bank of America boosted their price objective on Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Piper Sandler boosted their price objective on Nutanix from $67.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC lifted their price target on Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus target price of $68.54.

About Nutanix

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.