Nutanix Inc.'s stock soared 5.02% during intraday trading on Thursday, following the company's release of better-than-expected third-quarter financial results.
The cloud computing software company reported quarterly earnings of 47 cents per share, beating the analyst consensus estimate of 36 cents. Revenue of $703.066 million also surpassed expectations of $686.372 million. Furthermore, Nutanix raised its full-year 2026 sales guidance, indicating stronger future performance.
The positive earnings report triggered a wave of analyst upgrades. Multiple firms, including BofA Securities, UBS, Morgan Stanley, Wells Fargo, Barclays, and JP Morgan, raised their price targets on Nutanix stock. Analysts cited the company's solid demand, strong bookings, healthy new customer additions, and good free cash flow performance as reasons for their optimistic outlooks.