Nutanix News: Why NTNX Stock Is Plunging Today

Nutanix news from the company’s earnings report for its fiscal second quarter of 2019 has NTNX stock down on Friday.

Nutanix News: Why NTNX Stock Is Plunging TodayWhat is is about the Nutanix (NASDAQ:NTNX) earnings report that has NTNX stock down today? It’s the company’s outlook for its fiscal third quarter of 2019 that is behind the drop to NTNX stock.

That outlook in the Nutanix news release includes losses per share for its fiscal third quarter of 2019 coming in around 60 cents. This will easily have the company missing Wall Street’s losses per share outlook of 28 cents for the period.

Nutanix’s outlook for its fiscal third quarter of 2018 also has it expecting revenue to range from $290 million and $300 million. That’s also a blow to NTNX stock by being well below analysts’ revenue estimate of $347.68 million for the quarter.

“Looking ahead, our third quarter guidance reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring,” Duston Williams, CFO of Nutanix, said in a statement. “We took a critical look at these areas and have taken actions to address them.”

The Nutanix news also includes its results for its fiscal second quarter of 2019. It reported losses per share of 23 cents on revenue of $335.36 million. Wall Street was looking for losses per share of 25 cents on revenue of $331.22 million for the quarter.

Something else that isn’t helping NTNX stock today is Nutanix news about downgrades. Several analysts are dropping their ratings for the stock following the release of its poor outlook for the upcoming quarter.

NTNX stock was down 31% as of noon Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/03/nutanix-news-why-ntnx-stock-is-plunging-today/.

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