{"id":55742,"date":"2023-09-01T10:56:08","date_gmt":"2023-09-01T14:56:08","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/nutanix-jumps-16-on-q4-beat-announced-buyback-results-strong-says-bofa\/"},"modified":"2023-09-01T10:56:10","modified_gmt":"2023-09-01T14:56:10","slug":"nutanix-jumps-16-on-q4-beat-announced-buyback-results-strong-says-bofa","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55742","title":{"rendered":"Nutanix jumps 16% on Q4 beat, announced buyback; results ‘strong’ says BofA"},"content":{"rendered":"
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\u00a9 Reuters. Nutanix jumps 16% on Q4 beat & solid guidance, announces $350M buyback<\/span>
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Nutanix (NASDAQ:) shares surged more than 19% in early Friday trade after the company reported Q4 results.<\/p>\n

EPS of $0.24 came in better than the consensus estimate of $0.16. increased 28% year-over-year to $494.2 million, compared to the consensus estimate of $475.24M.<\/p>\n

\u201cOur consistent execution over the course of the year against an uncertain macro backdrop is a testament to the benefits of our subscription model, as well as the value our customers see in the Nutanix Cloud Platform as they look to modernize their IT footprints and implement hybrid multicloud operating models,\u201d said CEO Rajiv Ramaswami.<\/p>\n

For Q1\/24, the company expects revenue in the range of $495M-$505M, better than the consensus of $487.2M. ACV billings are expected to be in the range of $260M-$270M.<\/p>\n

For the full year, the company expects revenue of $2.085 billion-$2.115B, compared to the consensus of $2.08B. ACV billings are expected to be in the range of $1.075B-$1.095B.<\/p>\n

Furthermore, the company announced that its Board of Directors has authorized the repurchase of up to $350M of its Class A common stock.<\/p>\n

JMP analysts continue to see Nutanix as “an attractively valued infrastructure opportunity.”<\/p>\n

“The company is an established leader in the private cloud infrastructure market, which is a vast opportunity,” they said.<\/p>\n

BofA analysts hiked the price target by $5 to $39 per share.<\/p>\n

“We continue to believe that Nutanix can march toward a rule of 40 business over time. We reiterate our Neutral rating given the tougher macro backdrop offset by solid execution that is delivering on converting a strong renewal pipeline.”<\/p>\n

(Additional reporting by Senad Karaahmetovic)<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Nutanix jumps 16% on Q4 beat & solid guidance, announces $350M buyback Nutanix (NASDAQ:) shares surged more than 19% in early Friday trade after the company reported Q4 results. EPS of $0.24 came in better than the consensus estimate of $0.16. increased 28% year-over-year to $494.2 million, compared to the consensus estimate of […]<\/p>\n","protected":false},"author":1,"featured_media":657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-55742","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nNutanix jumps 16% on Q4 beat, announced buyback; results 'strong' says BofA | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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