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Don't Overlook These Top-Rated Stocks After Earnings

After easily surpassing their quarterly earnings expectations on Wednesday a few top-rated Zacks stocks are rising in today’s trading session.

Let’s review the quarterly results from these intriguing companies that shouldn’t be overlooked as their stocks could keep rising in the weeks to follow.

Construction Partners ROAD – Zacks Rank #1 (Strong Buy)

President Biden’s $1.2 trillion infrastructure bill has lifted a few of the players in the Zacks Building Products-Miscellaneous Industry such as Construction Partners which is an infrastructure and road construction company.

With the Building Products-Miscellaneous Industry currently in the top 19% of over 250 Zacks industries Construction Partners’ fiscal fourth quarter earnings of $0.59 per share topped the Zacks Consensus of $0.52 a share by 13%. On the top line, Q4 sales of $475.03 million beat estimates by 2%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

More impressive was that Q4 earnings soared 136% from $0.25 a share in the prior year quarter while sales climbed 21% from $393.05 million a year ago. Construction Partners stock is up roughly +1% today and has now soared +57% year to date.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Snowflake SNOW – Zacks Rank #2 (Buy)

The Zacks Internet-Software Industry is in the top 14% of all Zacks industries and Snowflake was the latest company in the space to blow away earnings expectations. The data cloud company is starting to justify its early hype upon going public in 2020 with third quarter earnings of $0.25 a share coming in 66% above estimates of $0.15 a share.

Third quarter sales of $734.17 million beat expectations by 3%. Furthermore, Snowflake’s Q3 earnings more than doubled from $0.11 a share in the prior year quarter with sales soaring 31% from $557.03 million a year ago.

Reconfirming its steady growth Snowflake has now surpassed earnings expectations for 10 consecutive quarters with SNOW shares spiking +5% this morning and now up +29% for the year.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Nutanix NTNX – Zacks Rank #2 (Buy)

Along with Snowflake, another tech stock that shouldn’t be overlooked after stronger than expected quarterly results is Nutanix. The Zacks Computers-IT Services Industry is in the top 24 percentile and Nutanix is benefiting as a provider of an enterprise cloud operating system that combines various software tools and applications into one integrated solution.

Reporting its fiscal first quarter earnings on Wednesday, Q1 EPS of $0.29 easily surpassed expectations of $0.17 a share by 70% and skyrocketed from $0.03 a share in the prior year quarter. Quarterly sales of $511.05 million came in 2% above estimates and jumped 18% YoY. Nutanix shares have popped +3% on Thursday and have now soared +63% YTD.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Takeaway 

Benefitting from strong business industries, the strong price performances of these top-rated Zacks stocks could continue. After posting impressive quarterly results, now looks like a good time to buy Construction Partners, Snowflake, and Nutanix stock as they could drift higher in the coming weeks.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Snowflake Inc. (SNOW) : Free Stock Analysis Report

Nutanix (NTNX) : Free Stock Analysis Report

Construction Partners, Inc. (ROAD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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