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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nutanix, Inc.    NTNX

NUTANIX, INC.

(NTNX)
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Shuman, Glenn & Stecker : Investigates Nutanix, Inc.

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09/18/2020 | 10:31am EDT

Shuman, Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Nutanix, Inc. (“Nutanix” or the “Company”) (NASDAQ: NTNX). Nutanix is a software company that provides products, services, and cloud-based infrastructure.

The Firm’s investigation relates to allegations raised in a class action lawsuit filed against Nutanix and certain of its senior officers in the U.S. District Court for the Northern District of California. The class action alleges that the defendants secretly diverted funds which had been allocated for the process of identifying and cultivating potential customers (referred to as “lead generation”) to research and development (“R&D”) instead, in order to accelerate the development of the Company’s desperately needed public cloud-based products. It is further alleged that the defendants made a series of misleading public statements which created the false impression that Nutanix was increasing its investment in its sales pipeline by hiring sufficient sales personnel and increasing lead generation activities. In reality, Nutanix was experiencing unprecedented sales force attrition and flattened spending on lead generation, while redirecting Company funds to R&D.

On February 28, 2019, Nutanix disclosed that it had not kept pace with its sales hiring goals and suffered from poor sales execution due to insufficient staffing and sales training. On this news, the Company’s stock price fell $16.39 per share, or more than 32%, to close at $33.70. On May 30, 2019, Nutanix announced that it missed revenue and billing targets due to continuing sales execution issues. On this news, the Company’s stock price fell $4.60 per share, or over 14%, to close at $28.07. Nutanix stock currently trades for approximately $24 per share. On September 11, 2020, the defendants’ motion to dismiss was denied in its entirety and the class action is now proceeding towards trial.

If you currently own Nutanix common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com

Shuman, Glenn & Stecker represents investors throughout the nation, concentrating its practice in stockholder litigation.

© Business Wire 2020

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Financials (USD)
Sales 2021 1 285 M - -
Net income 2021 -850 M - -
Net cash 2021 21,7 M - -
P/E ratio 2021 -5,90x
Yield 2021 -
Capitalization 5 016 M 5 016 M -
EV / Sales 2021 3,89x
EV / Sales 2022 3,68x
Nbr of Employees 6 170
Free-Float 91,4%
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Technical analysis trends NUTANIX, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 27,93 $
Last Close Price 24,34 $
Spread / Highest target 84,9%
Spread / Average Target 14,8%
Spread / Lowest Target -26,0%
EPS Revisions
Managers
NameTitle
Dheeraj Pandey Chairman & Chief Executive Officer
David Sangster Chief Operating Officer
Duston M. Williams Chief Financial Officer
Rajiv Mirani Chief Technology Officer-Cloud Platforms
Wendy M. Pfeiffer Chief Information Officer
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