Nutanix stock price target raised to $68 vs. $64 at KeyBanc

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Nutanix shares fall on earnings miss

Nutanix Inc. shares dropped more than 7% before taking back some of those losses and trading down 4.2% in the extended session Thursday after the company missed analyst earnings expectations. The cloud computing company’s shares fell 1.6% to $55.37 during regular trading. The company reported fiscal third-quarter net losses of $85.7 million, or 51 cents a share, compared with losses of $96.8 million, or 67 cents a share, in the year-ago period. Adjusted losses were 21 cents a share. Revenue rose to $289.4 million from $205.7 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 19 cents a share on revenue of $278.7 million. For the fourth fiscal quarter, analysts model adjusted losses of 13 cents a share on sales of $289 million. The company said it expects fiscal fourth-quarter adjusted losses of 20 cents to 22 cents a share on revenue of $295 million to $300 million, assuming the elimination of about $9 million in pass-through hardware sales and an increased billings-to-revenue ratio of 1.25. Nutanix stock has gained 57% this year, with the S&P 500 index rising 2.2%.

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