Nutanix, Inc. NTNX was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 26.6% in the past one-month time frame.
The move came after the company reported better than expected first-quarter 2018 results and confirmed its plan to shift toward a software-centric business model.
Although the company has not seen any changes in estimate revisions in the past few weeks, its Zacks Consensus Estimate for the current quarter has moved higher over the past few weeks, suggesting that more solid trading could be ahead for Nutanix. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Nutanix currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the Computers – IT Services industry is DXC Technology Company DXC, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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