Analysts Alex Kurtz and Steve Enders believe Nutanix has an expanding software business with enough room for margin outlook in the long term, thus boosting investor confidence. These favorable points support the premium valuation of the stock.
The brokerage pointed out that Nutanix QoS software differentiated itself from the rest with its standout features and scalability. As a result, IT firms could replicate the automation with the help of storage, virtualization and networking in a single appliance.
"In many customer use cases, this lowers data center operating expenses by 20 percent to 50 percent. Nutanix has quickly scaled to approximately 3,800 customers from 800 two years ago on key capabilities within its Distributed Storage Fabric (DSF; high availability) and App Mobility Fabric (AMF; support across multiple hypervisors)," Pacific Crest said in a research note to clients.
At last check, the stock fell 2.19 percent to $29.12.
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