This Rapidly Growing Cloud Stock Is on Sale Right Now
The past six months have been terrible for Nutanix (NASDAQ: NTNX) investors as shares of the enterprise cloud platform provider have plunged more than 42% during this period.
However, Nutanix's severe pullback doesn't seem justified, as it has been reporting impressive growth in recent quarters thanks to the switch to a subscription business model. The trend of strong results continued when Nutanix released its fiscal 2022 second-quarter earnings report on March 2.
The company beat Wall Street's expectations handsomely and slightly raised the lower end of its full-year guidance on account of robust spending on enterprise cloud infrastructure. The increasing adoption of the software-defined hyper-converged infrastructure (HCI) that combines computing, storage, and networking onto a single platform was also a tailwind for Nutanix.
Source Fool.com
