Nutanix, Inc. (NTNX), cloud platform solutions company yesterday reported their third quarter 2017 financial results. Nutanix reported third quarter adjusted earnings of a loss of $0.42 per share which beat analyst expectations of a loss of $0.43 per share. Nutanix reported third quarter revenues of $191.85 million which beat analyst expectations of $185.7 million.  

Nutanix, Inc. CEO’s  Comments

“We continue to execute on our strategy of building a cloud operating system that provides our customers maximum choice of hardware platforms. We recently established a partnership with IBM® to bring to market the industry’s first hyperconverged solution on Power Systems, and introduced support for HPE® ProLiant® and Cisco UCS® blade servers,” said Dheeraj Pandey, CEO, Nutanix. “Our third quarter results reflect our continued focus on the Global 2000 as well as a measurable improvement in the number of larger deals in the quarter, particularly in North America.”  Business Wire

NTNX Technical Analysis

(Click on image to enlarge)

Nutanix Chart

NTNX opened trading yesterday at $17.90 which was up from the previous day’s trading close of $17.45. NTNX closed trading yesterday at $17.57 and spiked up after market to $19.97, equivalent to a 14% increase from the closing price. Taking a look at the daily chart we can see the last time NTNX traded above these levels we have to go back to March 28th when it traded at highs of $20.06.

Taking a closer look at the daily chart we can see that before the spike up NTNX had been in an overall downward trend dating back to February 15th when it traded at $33.10. NTNX has a float of 34.92 million shares and traded 2.38 times the normal daily trading volume on Thursday.