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Here Are 5 Reasons Why Nutanix’s Stock Price Is Dropping

These are the five main reasons why Nutanix’s stock is down 28 percent Thursday.

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Why Did Nutanix’s Stock Drop 28 Percent?

The hyperconverged infrastructure pioneer’s stock is down more than 28 percent Thursday after Nutanix reported its second fiscal quarter earnings Wednesday night. Nutanix’s stock is currently trading at $23.28 per share as of Thursday morning.

The San Jose, Calif.-based company posted solid growth in its bread-and-butter software and support sales, which makes up the majority of Nutanix’s business, during its second fiscal earning report. Software and support revenue reached $338 million, up 14 percent year over year, while software and support billings hit $420 million, an increase of 12 percent compared with the same quarter one year ago. Nutanix’s total revenue in the second quarter was up approximately 4 percent year over year to $347 million.

So why did Nutanix’s stock drop 28 percent? CRN breaks down the five main reasons why the company’s stock took a dive at such a significant rate.

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