Stocks are having a terrible time in 2022 thanks to several factors, including high inflation, the possibility of a recession in the U.S., and a global economic slowdown. Bank of America estimates that the bear market could end in October 2022. Historical trends suggest that stocks could go on a multiyear bull run once the bear market ends.
Nutanix (NTNX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Nutanix's (NASDAQ: NTNX) year went from bad to worse following the May 25 release of the company's fiscal 2022 third-quarter results (for the three months ending on April 30) as investors punished the stock over management's woeful guidance. Share prices of the enterprise cloud platform provider plunged 23% in a single session despite impressive growth in the company's sales and billings, as well as a reduction in its adjusted loss. Let's see what went wrong for Nutanix last quarter, and check why investors may want to take advantage of the 56% decline in the company's share price this year to buy this cloud stock for the long run.