earlier this month hit a new record high of $66.99 after the company in late February reported better-than-expected fiscal Q2 results. Recently trading around $61.75, the stock has risen 29.4% YTD versus a 9.1% gain for the Nasdaq Composite.
For customers, the Nutanix Cloud Platform offers modernization and provides a seamless path to the public cloud. The platform has the ability to smoothly run and manage workloads wherever the optimal performance and TCO can be achieved. Nutanix is seeing larger deals in the pipeline because the platform has matured enough to support bigger enterprises. The company has assembled a dedicated sales team to go after these larger customers. Nutanix is also seeing an expanding opportunity to win some business from VMware . Unhappy VMware customers who don’t like Broadcom’s disruption in pricing and contract terms are now considering alternative vendors.