Why Is Cloud Computing Company Nutanix's Stock Diving Thursday?
Portfolio Pulse from Lekha Gupta
Nutanix, Inc. (NASDAQ:NTNX) shares are trading lower after reporting third-quarter FY24 results. Despite beating revenue and EPS expectations, the company's Q4 and FY24 revenue outlooks fell short of consensus estimates. NTNX shares are down 18.1%. Investors can gain exposure via ProShares Big Data Refiners ETF (NYSE:DAT) and Series Portfolios Trust Adaptiv Select ETF (NYSE:ADPV).
May 30, 2024 | 2:31 pm
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NEGATIVE IMPACT
Series Portfolios Trust Adaptiv Select ETF (ADPV) may experience some impact due to its exposure to Nutanix, which reported mixed Q3 FY24 results and saw a significant drop in share price.
ADPV has exposure to Nutanix, which experienced a significant drop in share price after mixed Q3 results. This could negatively affect the ETF's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
ProShares Big Data Refiners ETF (DAT) may see some impact due to its exposure to Nutanix, which reported mixed Q3 FY24 results and saw a significant drop in share price.
DAT has exposure to Nutanix, which saw a significant drop in share price after mixed Q3 results. This could negatively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Nutanix shares are down 18.1% after reporting Q3 FY24 results. Despite beating revenue and EPS expectations, the company's Q4 and FY24 revenue outlooks fell short of consensus estimates.
The significant drop in NTNX shares is due to the company's Q4 and FY24 revenue outlooks falling short of consensus estimates, despite strong Q3 results.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100