On June 1, Nutanix Inc. rose 5.53% in pre-market trading, trading at $54.95/share, with trading volume of $571,000.

On the news front, the company previously reported fiscal Q3 results that significantly exceeded expectations. Adjusted EPS came in at $0.47, up 11.9% year-over-year, beating the consensus estimate of $0.36 by 30.56%. Revenue reached $703.1 million, representing 10% year-over-year growth and surpassing the $686.3 million consensus. Prior to the earnings release, the stock had declined over 6% on expectations of earnings pressure, and the strong actual results have driven accelerated fund inflows as risk-off capital reverses positions.

Additionally, management announced it will present at the BofA Securities Global Technology Conference on June 2, providing further positive sentiment. Morgan Stanley raised its price target from $53 to $55, while RBC Capital Markets reiterated its outperform rating, noting guidance remains achievable despite supply chain and macro headwinds.

Nutanix provides enterprise hybrid multicloud computing platforms, offering software solutions covering applications, databases, virtual desktops, and cloud-native workloads for over 30,000 customers worldwide.

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