Tintri Inc. (NASDAQ:TNTR) Appoints Michael Lombardo

Tintri Inc. (NASDAQ:TNTR)

Tintri Inc. (NASDAQ:TNTR) shares jumped 7.44% after the storage management solutions provider announced the appointment of Michael Lombardo as the Vice President of Channel Sales. His appointment follows the launch of EC6000 all-flash series and the Tintri Cloud.

Tintri Stock Performance

Analyst sentiments on Tintri Inc. (NASDAQ:TNTR) have turned sour ever since it became a public company. The stock is already down by more than 50% from its IPO price as investors continue to question its long-term growth prospects.

Tintri Inc. (NASDAQ:TNTR)

Fuelling the sell-off wave are reports that the company might have provided misleading statements in the run-up to its Initial Public Offering. According to a number of complaints lodged by law firms, the management team is accused of failing to disclose that the company was experiencing sales attrition as well as distraction and disruption in the business.

Tintri Sales Growth

Sales in the quarter coming in at the lower end of expectations and guidance appears to support concerns that the company might have withheld information from shareholders. Tintri Inc. (NASDAQ:TNTR) has sought to quash the concerns by unveiling new products and reiterating that it is on course to meet its growth targets.

The appointment of Leonardo is seen by observers as a move by Tintri to affirm its commitment to accelerating sales growth. He joins the company with over 20 years’ experience which the company believes will be crucial as he moves to oversee national account teams and sales channels.

“Tintri is continuing to expand on its channel commitment—through training and certifications we’ve helped our partners build their cloud businesses. Now Michael, especially through his experience with national partners, will play a critical role in refining our channel strategy and driving channel sales forward,” said Tom Ellery, Senior Vice President of Americas and Federal at Tintri.

Separately, Tintri Inc. (NASDAQ:TNTR) will be showcasing its newly launched solutions EC6000 series at the Microsoft Corporation (NASDAQMSFT) Ignite conference in Orlando, Florida. The company will also demonstrate its deep integration with the Microsoft ecosystem as it seeks to help joint customers automate storage management and enable a number of enterprise cloud benefits.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TNTR and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Tintri Inc. (NASDAQ:TNTR) Hit With Lawsuits After Q2 Revenue Miss

Tintri Inc. (NASDAQ:TNTR)

Shares of Tintri Inc. (NASDAQ:TNTR) fell 16.67% as investors reacted to disappointing second quarter earnings that failed to meet Wall Street expectations. Law firms have since lodged class action lawsuits, arguing that the company provided misleading statements in the run-up to its IPO.

Tintri Inc. (NASDAQ:TNTR)
One month TNTR stock price chart

Investors Reaction

Tintri Inc. (NASDAQ:TNTR)’S sentiments on the street have turned sour ever since it became a public company. Sellers appear to be in full control of the stock as it continues to trade at the lower end of a $2.90 – $3.61 trading range. The stock is currently trading in a downtrend as it continues to hit lower lows.

Given the strength of the selling pressure, the stock could register a new 52-week low after losing more than 40% of its IPO share value. One of the reasons the stock is receiving a lot negative news is its failure to meet second quarter guidance even as revenues grew by double digits.

Tintri Inc. (NASDAQ:TNTR) develops and markets an enterprise cloud platform that combines cloud management software and a range of all-flash storage systems. The platform is designed to provide cloud service providers as well as organizations, capabilities for managing data centers and public cloud services.

The enterprise cloud provider reported revenues of $34.9 million for the second quarter. While revenue was up by 27% year over year, it came in at the lower end of the company’s guidance, a performance seems to have spooked investors fuelling the sell-off wave.

Tintri Inc. Defense

A bid by the CEO, Ken Klein, to try and tout areas where the company performed extremely well in Q2 has done little to revitalize investor’s sentiments on the stock.

“We remain confident in our competitive position and in the strength of our value proposition. In the quarter, we received the largest order in the company’s history and added new enterprise logos. Additionally, we experienced continued momentum in our land-and-expand strategy with more purchases from current customers,” said Mr. Klein.

During the company’s second-quarter earnings conference call, the Chief Executive Officer attributed the lower than expected Q2 revenue to distraction, disruption, and sales attrition during and after the IPO.

Tintri Inc. (NASDAQ:TNTR) stocked plunged 31% to close at $4.55 in the wake of the CEO sentiments, something that law firms argue could not have happened had the company provided accurate statements.

Law firms led by the likes of Khang & Khang LLP and Rosen Law Firm have lodged investigations into whether the company provided misleading statements in the run-up to its public offering.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TNTR and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Tintri Inc (NASDAQ:TNTR) Pays Price for Disappointing Q2 Results

Tintri Inc (NASDAQ:TNTR)

Tintri Inc (NASDAQ:TNTR) felt the wrath of Wall Street after reporting second quarter earnings that fell short of expectations. The stock shed 31.89% in value as investors questioned the company’s growth metrics on revenues coming at the low end of expectations.

Tintri Stock Performance

Tintri Inc (NASDAQ:TNTR)
One month TNTR stock price chart

Last week’s sell off brought to an end a bullish momentum that began last month. The stock of Tintri Inc (NASDAQ:TNTR) gapped lower from the $6.80 per share trading range to record a new 52-week low of $4.20 a share. Changing investor’s sentiments comes months after the cloud company made its debut in the stock market with an opening price of $7.12 a share, reaching highs of $7.75 a share.

The recent sell-off has already triggered a wave of class action lawsuits. Law firm Johnson Fistel, LLP is questioning whether the management provided misleading statements about the company’s business and prospects.

Chief Executive Officer, Ken Klein has sought to dispel the concerns by touting the value proposition offered by Tintri Inc (NASDAQ:TNTR) as well as cash flow improvements. According to the executive, the fact that the company received its largest order in the quarter is a further testament to the firm’s robust growth.

“While the company’s revenue came in at the low end of our expectations, we delivered stronger than projected profitability and cash flow improvements. We remain confident in our competitive position and in the strength of our value proposition. In the quarter we received the largest order in the company’s history and added new enterprise logos,” said Mr. Klein.

Q2 Earnings Report

Tintri Inc (NASDAQ:TNTR) reported revenues of $4.9 million representing a 27% year over year growth. Net loss attributable to shareholder shrunk to (-$2.50) per share from (-$7.53) per share reported last year. The company exited the quarter with cash and cash equivalent of $80.6 million compared to $48 million as of January 31, 2017.

For the third quarter, Tintri Inc (NASDAQ:TNTR) expects revenues of between $36 million and $37 million. Non-GAAP net loss on the other and should range between (-$0.77) and (-$0.81) a share.

The launch of a new all-flash platform Tintri EC6000 according to Mr. Klein is one of the things to look out for in the second half of the year. The cloud Connector which is already integrated to Amazon Web Services and IBM Cloud Object Storage should enhance Tintri’s competitive edge in the cloud enterprise business. The company has also announced the integration of the connector with Cisco Systems, Inc. (NASDAQ:CSCO) UCS Director.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TNTR and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.