Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Thursday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
Topping the list is Nutanix, Inc. (NASDAQ:NTNX), which gained 16.2% early Thursday. The upside might have been triggered by the company’s encouraging earnings results for the fourth quarter of Fiscal 2022. Revenues of $385.5 million in the quarter surpassed estimates of $355.3 million. Further, Nutanix’s adjusted net loss of 17 cents per share came in narrower than analysts’ estimates of a loss of 38 cents per share.
Okta, Inc. (NASDAQ:OKTA) was trading 14.4% down at the last check. Shares of the software company have declined despite delivering a narrower-than-estimated loss in the second quarter of Fiscal 2023. In its earnings report, Okta informed its stakeholders that it was grappling with obstacles in integrating the identity software company Auth0 (acquired in 2021), which is adversely impacting its business growth.
Next on the list is C3.ai, Inc. (NYSE:AI), which was down almost 14.4% at the time of writing. Shares of the Enterprise AI application software company have been declining after it tweaked its revenue guidance for Fiscal 2023. The company now projects full-year Fiscal 2023 revenues between $255 million and $270 million, compared to the guidance range of $308-$316 million stated earlier.
Shares of cloud-computing company Veeva Systems Inc. (NYSE: VEEV) were trending 10.5% lower at the time of writing. The company trimming its revenue outlook for Fiscal 2023 has disappointed investors. Veeva now expects full-year revenues in the range of $2.14-$2.15 billion, compared to $2.17-$2.18 billion anticipated earlier.
Last on the list is Pure Storage (NYSE:PSTG), which grew 5.3% in Thursday’s pre-market trading session. The company posted encouraging second-quarter Fiscal 2023 financial results. While the adjusted net income of 32 cents per share surpassed analysts’ projections of 22 cents per share, revenues of $646.8 million outpaced estimates of $636 million.
Continue to watch this space for possible volatility upon the market open. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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