Why Nutanix, Inc. (NTNX) Went Up on Thursday

We recently compiled a list of the 10 Firms Stayed Strong Amid Market Bloodbath. In this article, we are going to take a look at where Nutanix, Inc. (NASDAQ:NTNX) stands against the other stocks.

The stock market ended in a bloodbath on Thursday, with all major indices finishing in the red, as investors turned cautious anew over President Donald Trump’s tariff imposition on goods from more countries.

The Dow Jones dropped by 0.45 percent, while the S&P declined 1.59 percent. Nasdaq, on the other hand, lost 2.78 percent.

On Thursday, Trump threatened to slap EU products with a 25-percent tariff, following his announcement on Wednesday of another month of delay for the imposition of taxes on goods from Mexico and Canada.

Meanwhile, ten companies defied broader market pessimism, posting strong gains during the day.

To come up with Thursday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a laptop screen displaying cloud platform application software.

Nutanix, Inc. (NASDAQ:NTNX)

Nutanix, Inc. (NASDAQ:NTNX)’s share prices jumped by 10.37 percent to finish at $76.54 apiece as investor sentiment was fueled by its impressive earnings performance during the last quarter.

In a statement, Nutanix, Inc. (NASDAQ:NTNX) said net income for the second quarter ended January 31, 2025, spiked by 72 percent to $56.4 million from $32.8 million, while net income for the second half of the year expanded by 410 percent to $86.35 million from $16.94 million.

Revenues in the same comparable quarter improved by 15.8 percent to $654.7 million from $565.2 million, while revenues for the second half declined by 15.7 percent to $1.245 billion from $1.076 billion.

For the third quarter, Nutanix, Inc. (NASDAQ:NTNX) said it expects revenues to settle between $620 million and $630 million, while revenues for the full year were pegged at a range of $2.495 billion to $2.515 billion.

Overall NTNX ranks 5th on our list of Thursday’s top gainers. While we acknowledge the potential of NTNX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as NTNX but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey.