Why Nutanix Stock Is Up After Flat Revenue Growth
Nutanix’s stock is surging after the hybrid cloud software and services specialist reported a solid first fiscal quarter Monday night. The San Jose, Calif.-based company’s stock climbed upwards of 21 percent in after-hours trading and now sits at $33.60 per share as of Tuesday afternoon, up from $28.75 per share at the market close on Monday.
What’s interesting is Nutanix’s stock spike came after the company reported basically flat revenue year-over-year growth of $315 million during its first fiscal quarter, which ended Oct. 31, 2019, as well as a GAAP net loss of $229 million.
Here are the five reasons why investors are betting on the hyperconverged infrastructure pioneer.