Nutanix Weighs Strategic Options Following Takeover Proposal

  • Cloud-computing company Nutanix, Inc NTNX explored a sale after receiving takeover interest.
  • Nutanix will likely target private equity and industry players, the Wall Street Journal reported.
  • A buyer would likely have to pay a significant premium to Nutanix’s market value of nearly $5 billion amid the current market volatility and economic uncertainty.
  • Nutanix sported a market value of more than $9 billion in September 2021, but its shares have fallen by more than a third in 2022. 
  • Nutanix regained some lost ground lately, soaring after reporting better-than-expected results and forecasts in late August.
  • Nutanix said fiscal fourth-quarter revenue decreased 1% year-over-year to $385.5 million, which beat average analyst estimates. The company reported a quarterly adjusted net loss of 17 cents per share, which beat average analyst estimates.
  • In September, Nutanix agreed to seek approval for a move to permit shareholders to vote annually for all board directors.
  • Price Action: NTNX shares traded higher by 16.1% at $24.56 in the premarket on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!