This Cloud Stock Could Head Higher After Its Latest Earnings Report

Nutanix (NASDAQ: NTNX) share prices jumped 8% following the release of its fiscal 2022 first-quarter earnings report on Nov. 23. The hybrid cloud specialist reported impressive growth in its revenue, margins, and other metrics that indicate it can maintain high growth rates for a long time to come.

The robust numbers and outlook could help arrest the slide in Nutanix's stock price that began for no apparent reason at the start of September. The company exited the previous fiscal year on a high, and it looks set to switch into a higher gear in the new one. Let's look at the key takeaways from Nutanix's latest report and see why it could be a good bet for investors looking to add a cloud stock to their portfolios.

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Source Fool.com