Nutanix Inc. (NTNX) in San Jose, Calif., is a global leader in cloud software and a pioneer in hyper-converged infrastructure solutions, making clouds invisible and allowing clients to focus on their business goals. The company's shares are down 48.6% in price over the past year and 35.3% over the past month. In addition, closing yesterday's trading session at $16.20, the stock is currently trading 63.6% below its 52-week high of $44.50, which it hit on Sept. 07, 2021.
The hybrid cloud provider reported solid growth in its fiscal third quarter, but the results fell far short of analyst estimates. NTNX announced quarterly results for the three months ended April 30. Its revenue increased by 17% year-over-year to $404 million, with annual recurring revenue (ARR) increasing by 46% to $1.1 billion.
