This Beaten-Down Cloud Stock Could Be a Solid Long-Term Pick

Nutanix (NASDAQ: NTNX) gave investors a rude shock recently by slashing its full-year guidance. The cloud-based hyper-convergence specialist is facing a double whammy, thanks to the novel coronavirus outbreak and the ongoing transition in its business.

Nutanix is now anticipating software and support revenue between $1.29 billion and $1.36 billion this year, down from its earlier forecast of $1.30 billion to $1.40 billion. Not surprisingly, investors got worried, and they didn't hesitate to hit the panic button. But for a company that has the potential to make it big in the long run, Nutanix's latest drop has opened up a buying opportunity for savvy investors.

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Source Fool.com