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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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$217 Million Loss

For its second fiscal quarter 2020, Nutanix reported a loss per share of $1.13, or $217 million. In the same quarter one year ago, Nutanix reported a loss of $123 million, or $0.68 per share.

Needham Investment Banking lowered Nutanix’s target from $46 to $42 per share Thursday. Analyst Jack Andrew cited “near-term uncertainty” due to the coronavirus outbreak as one cause for the target cut.

However, Nutanix’s CEO said he is not worried about the stock drop or lowering its full- year 2020 fiscal guidance.

“Business is robust,” said Pandey. “We just have to be a little more cautious.”

 

 
 
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