Benzinga - by Lisa Levin, Benzinga Editor.
Nutanix, Inc. (NASDAQ: NTNX) reported stronger-than-expected fourth-quarter financial results and announced a $350 million share repurchase program.
Nutanix said fiscal fourth-quarter revenue increased 28% year-over-year to $494.21 million, which beat the consensus estimate of $475.16 million. The company reported quarterly adjusted earnings of 24 cents per share, which beat analyst estimates of 16 cents per share.
Nutanix sees fiscal first-quarter revenue of $495 million to $505 million versus estimates of $487.22 million. The company expects full-year revenue to be between $2.085 billion and $2.115 billion versus estimates of $2.08 billion.
Nutanix shares rose 17.4% to $36.50 in today’s pre-market trading session.
These analysts made changes to their price targets on Nutanix following earnings announcement.
- Keybanc increased the price target on Nutanix from $35 to $45. Keybanc analyst Michael Turits maintained an Overweight rating.
- Needham boosted the price target on Nutanix from $33 to $44. Needham analyst Mike Cikos maintained a Buy rating.
- JMP Securities analyst Erik Suppiger, meanwhile, reiterated with a Market Outperform and maintained a $35 price target.
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