Nutanix Stock Plummets 22% on Mixed Earnings Report
Shares of (NASDAQ: NTNX) tumbled on Thursday, following the company's announcement of third-quarter business results. The hybrid cloud-computing expert annihilated Wall Street's consensus-earnings target, but Q4 guidance came in below current expectations. Nutanix shares traded 22% lower at 3 p.m. ET.
In Q3, Nutanix's sales rose 17% year over year to $524.5 million. Adjusted earnings soared from $0.04 to $0.28 per diluted share. Your average analyst would have settled for earnings of approximately $0.16 per share on revenue near $517 million.
Looking ahead, Nutanix's management set the top end of their Q4 revenue guidance at $540 million, significantly short of the Street's $546 projection.
Source Fool.com
Nutanix Inc. Stock
€55.44
2.480%
The stock is an absolute favorite of our community with 40 Buy predictions and no Sell predictions.
As a result the target price of 66 € shows a slightly positive potential of 19.05% compared to the current price of 55.44 € for Nutanix Inc..
