Nutanix Inc. (NTNX) saw its shares plummet 18.23% during intraday trading on Wednesday, following the company's disappointing fiscal Q1 earnings report and downward revision of its full-year revenue guidance.
The cloud computing firm reported Q1 revenue of $670.6 million, missing analyst estimates of $676.6 million, despite a 13% year-over-year increase. More concerning to investors, Nutanix slashed its fiscal 2026 revenue guidance to $2.82-$2.86 billion from its previous outlook of $2.9-$2.94 billion, citing revenue shifts from Q1 to future periods. The company's Q2 revenue guidance of $705-$715 million also fell significantly short of the $748.8 million consensus estimate.
The negative sentiment was further amplified by analyst actions, with JP Morgan cutting its price target to $65 from $78, Piper Sandler reducing its target to $72 from $88, and Needham lowering its target to $65 from $80. These revisions reflect growing concerns over Nutanix's near-term growth prospects.
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