Nutanix falls after co cuts FY revenue forecast

Shares of cloud computing firm Nutanix NTNX.O slide 17% to $48.77 premarket

Co cuts FY 26 revenue forecast to $2.82-$2.86 bln from the prior range of $2.9-$2.94 bln

Co also forecasts Q2 revenue of $705-$715, below analysts' estimates of $749.1 mln, according to data compiled by LSEG

Q1 revenue also misses estimates

Co says it saw some revenue shift from Q1 into future periods and expects revenue over time to remain unchanged

At least two brokerages cut PT on stock following the results

15 of 19 brokerages rate the stock "buy" or higher, four "hold"; their median PT is $79.61- LSEG data

Up to last close, stock down 3.9% YTD