Nutanix Inc NTNX shares are trading significantly lower Thursday after the company reported financial results and issued guidance below analyst estimates.
Nutanix reported fiscal third-quarter revenue of $403.66 million, which beat the estimate of $397.87 million, according to data from Benzinga Pro. The company reported a quarterly adjusted loss of 5 cents per share, which beat the estimate for a loss of 22 cents per share.
However, Nutanix said it expects fiscal fourth-quarter revenue to be between $340 million and $360 million versus the estimate of $439 million. The company expects full-year revenue to be between $1.535 billion and $1.555 billion versus the $1.63 billion estimate.
Analyst Assessment:
- Needham analyst Mike Cikos maintained Nutanix with a Buy rating and lowered the price target from $34 to $20.
- Morgan Stanley analyst Meta Marshall maintained Nutanix with an Equal-Weight rating and lowered the price target from $31 to $18.
- JMP Securities analyst Erik Suppiger maintained Nutanix with a Market Outperform rating and lowered the price target from $48 to $35.
- RBC Capital analyst Matthew Hedberg maintained Nutanix with an Outperform rating and lowered the price target from $45 to $21.
See Also: Benzinga's Top Ratings Upgrades, Downgrades For May 26, 2022
NTNX Price Action: Nutanix is making new 52-week lows on Thursday.
The stock was down 23.5% at $16.36 at press time.
Photo: Lorenzo Cafaro from Pixabay.
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