Why Nutanix Stock Is Sinking Today

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.