On June 4, Nutanix rose 5.05% in regular trading, trading at $55.57/share, with trading volume of $73.51 million.
The continued strength follows the company's fiscal Q3 earnings report released on May 27, which significantly exceeded expectations. Adjusted EPS came in at $0.47, up 11.9% year-over-year and beating the consensus estimate of $0.36 by 30.56%. Revenue reached $703.1 million, a 10% year-over-year increase, surpassing the expected $686.3 million. The company also raised its full-year revenue guidance to $2.82-$2.84 billion. Prior to the earnings release, the stock had pulled back more than 6% on concerns about earnings pressure, and the outsized beat has triggered sustained short-covering and fund repositioning. Additionally, management presented at the BofA Securities Global Technology Conference on June 2, further supporting positive sentiment around the company's hybrid multicloud and AI strategy.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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