Nutanix Plummets 20%, Q2 Beat Overshadowed By Lower Guidance

Nutanix Inc NTNX shares are trading lower by $6.00 (19 percent) at $25.12 in Friday's session.

After Thursday's close, the company reported an adjusted Q2 EPS beat of $0.07 along with a nearly $4 million beat for revenues. However, that's being overshadowed by its lower guidance for Q3. The company forecasts Q3 adjusted EPS of $(0.45)- $(0.48) vs. $(0.35) estimates and sales in the $180-$190 million range vs. $188.45 estimates.

See Also: Nutanix CFO Explains Conservative Guidance: 'There Is A Chance For Over Performance'

After a lower open, Nutanix's stock continued in that direction until it bottomed at $24.50 and reversed course. That low coincides with a pair of lows from December 13 and 14 at $24.80. Since making that low, it rebounded to $25.55 but has fallen back to the $25.00 area.