Why Nutanix Stock Jumped Today
Shares of Nutanix (NASDAQ: NTNX) were up 12.3% as of 2:20 p.m. ET Friday after the cloud computing and hyperconverged infrastructure (HCI) specialist announced strong fiscal 2023 fourth-quarter results (for the period ended July 31).
Nutanix's quarterly revenue climbed 28% year over year, to $494.2 million, translating to adjusted earnings of $67.5 million, or $0.24 per diluted share. By comparison, most analysts were modeling adjusted earnings of only $0.16 per share on revenue of $475.9 million.
Nutanix CEO Rajiv Ramaswami credited the company's subscription model for driving "consistent execution over the course of the year against an uncertain macro backdrop."
Source Fool.com
Nutanix Inc. Stock
The stock is an absolute favorite of our community with 40 Buy predictions and no Sell predictions.
As a result the target price of 62 € shows a positive potential of 36.26% compared to the current price of 45.5 € for Nutanix Inc..