Why Nutanix Rallied 25.1% in August
Shares of hybrid cloud software provider (NASDAQ: NTNX) rallied 25.1% in the month of August, according to data from S&P Global Market Intelligence.
Nutanix's fiscal fourth-quarter earnings report, released on Aug. 28, outpaced analyst estimates and also gave solid guidance for the year ahead.
In the quarter, Nutanix grew revenue 11% to $548 million while posting adjusted (non-GAAP) earnings per share of $0.27, with both numbers coming in ahead of analyst estimates. The company also guided for $570 million in revenue for the first quarter at the midpoint, showing nice sequential growth, and $2.345 billion to $2.465 billion for the year ahead. The forward annual guidance signals an 11.7% growth rate at the midpoint of the just-completed year, so that acceleration relative to the fourth quarter's growth rate likely encouraged investors.
Source Fool.com
Nutanix Inc. Stock
With 45 Buy predictions and not a single Sell prediction Nutanix Inc. is an absolute favorite of our community.
With a target price of 66 € there is a positive potential of 20.57% for Nutanix Inc. compared to the current price of 54.74 €.
