Nutanix Shares Lower Despite Q1 Beat
Nutanix Inc. (NASDAQ: NTNX) shares are trading lower by $1.38 at $32.71 in Wednesday's session.
In its first earnings report since its IPO in September, the company posted an EPS beat of $0.07 along with a revenue beat of $17.3 million. The company expects Q2 EPS to be inline, but expects revenue to be above Street estimates.
Despite the decline, the issue is still trading in a range that has persisted since November 16. That range is defined by a series of three lows at the $31 area from mid-November and multiple highs from $34.51 to $34.89 in seven of the last eight sessions (including today's price action).
The issue has been volatile since its IPO on September 30, with its all-time high made in its second session of trading at $46.78 and its all-time low on November 8 at $23.11.
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