Nutanix, Inc. (NASDAQ: NTNX)
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
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.
For day trading purposes, I would like to see NTNX open trading on Friday above $19.20 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.25 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Nutanix, Inc., together with its subsidiaries, provides enterprise cloud platform solutions that converge traditional silos of server, virtualization, and storage into one integrated solution. The companys software products include Acropolis that delivers performance distributed storage and application mobility solutions; and Prism, which delivers integrated virtualization and infrastructure management, operational analytics, and one-click administration solutions.
Its solutions address a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics. The company serves customers in a range of industries, including automotive, consumer goods, education, energy, financial services, healthcare, manufacturing, media, public sector, retail, technology, and telecommunications.
It also sells its services to service providers who utilize its platform to provide various cloud-based services to their customers. The company has operations throughout North America, Europe, the Asia-Pacific, the Middle East, Latin America, and Africa. Nutanix, Inc. was founded in 2009 and is headquartered in San Jose, California. Yahoo Finance
