Nutanix, Inc. (NTNX) delivered a strong performance in its fourth quarter, exceeding both earnings and revenue expectations. The company reported earnings of 27 cents per share, surpassing the analyst consensus estimate of 20 cents. Revenue for the quarter reached $547.95 million, exceeding the anticipated $536.94 million.
“Our fourth quarter was a solid finish to a fiscal year that showed good progress on our financial model with solid top-line growth and sharp year-over-year improvement in profitability,” said Rajiv Ramaswami, president and CEO of Nutanix.
Nutanix is optimistic about the future, projecting first-quarter revenue between $565 million and $575 million. This forecast surpasses analyst estimates of $536.91 million. For the full fiscal year, the company anticipates revenue to fall between $2.435 billion and $2.465 billion, outpacing the consensus estimate of $2.139 billion.
Following the announcement, Nutanix shares closed down 1.7% at $52.29. Despite the slight decline, analysts reacted favorably to the earnings report, with several raising their price targets for the stock.
B of A Securities analyst Wamsi Mohan maintained a Buy rating on Nutanix and lifted the price target from $72 to $75. Morgan Stanley analyst Meta Marshall also maintained an Equal-Weight rating while increasing the price target from $62 to $71. Barclays analyst Tim Long reiterated an Overweight rating and raised the price target from $71 to $75. Finally, Raymond James analyst Simon Leopold kept an Outperform rating and lifted the price target from $76 to $85.
The positive sentiment among analysts indicates confidence in Nutanix’s future prospects. The company’s strong financial performance and optimistic outlook suggest a bright future for Nutanix.
