Nic Chahine has an impressive track record of averaging 27% profits every 20 days with his options buys, boasting an 83% win rate in the process. Nutanix, Inc. (NASDAQ:NTNX) recently reported third-quarter FY24 results, showcasing a 17% year-over-year revenue increase to $524.6 million. The company also saw Annual Contract Value (ACV) billings rise by 20% to $288.9 million and Annual Recurring Revenue (ARR) climb by 24% to $1.82 billion.
Adjusted gross margin expanded to 86.5%, while adjusted operating margin increased to 14.0% in the quarter. Adjusted EPS exceeded expectations at $0.28, and operating cash flow was reported at $96.4 million, with free cash flow at $78.3 million. Nutanix also noted cash and cash equivalents of $598.03 million and short-term investments of $1.05 billion as of April-end.
Looking ahead, Nutanix anticipates fourth-quarter ACV billings of $295 million-$305 million and revenue of $530 million-$540 million. The company expects FY24 revenue of $2.13 billion-$2.14 billion, with investors having the ability to gain exposure to the stock through ProShares Big Data Refiners ETF (NYSE:DAT) and Series Portfolios Trust Adaptiv Select ETF (NYSE:ADPV).
In light of the recent quarterly results, analysts have adjusted their forecasts for Nutanix and investors are keeping a close eye on the stock’s performance. Currently, NTNX shares are down 18.1% at $60.02. Nic Chahine’s success with options buying serves as a notable example of how traders can achieve significant profits in the market. For more insights and updates, readers can subscribe to Benzinga’s morning newsletter and enter a giveaway for a chance to win $500 in stock or cryptocurrency. Benzinga does not provide investment advice.
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