Nutanix Inc (NASDAQ:NTNX) Oversold, Rebounds

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Nutanix Inc (NASDAQ:NTNX) bounced back Tuesday after a long spell of bearishness.

The stock jumped 15.06% to close the day at $26.89 on volume of 2.28 million shares.

Nutanix is the industry leader in hyperconverged infrastructure and software defined storage. The world’s most advanced enterprise datacenters rely on Nutanix for their storage, virtualization, and mission-critical workloads.

The company listed in September, its IPO raising about $238 million through the issue of shares at $16 each. The stock reached a high of $46.78 on October 3, but has fallen since, and touched a low of $23.11 yesterday.

Nutanix Inc (NASDAQ:NTNX): Industry trends

In a survey of the storage industry and selected value added resellers, Barclays’ computer hardware analyst Mark Moskowitz said in respect of Nutanix: “According to our 3Q survey, Nutanix and Simplivity were among the top vendors that respondents expect to grab increasing wallet share in the next 12 months. We think this could be an indication of the broader industry’s shift towards converged and hyper-converged offerings.”

In a statement this morning Nutanix unveiled its one-click datacenter automation capabilities to include network visualization, security and orchestration, and expand its set of APIs. Nutanix Prism will provide application-centric visualization of the network, in addition to information on server, virtualization and storage resources.

“IT teams benefit from Nutanix Prism serving as a single point of control for all infrastructure resources, along with seamless network integration so that network-based services instantly adapt to changes in the virtual environment,” the company said.

Vinod Khosla, billionaire founder of the renowned Silicon Valley venture firm Khosla Ventures, said recently that a time will come when IT staff could be augmented by, or even replaced by “AI-type” systems, referring to Artificial Intelligence (AI) – the next big thing for today’s vast data centers and cloud servers.

Nutanix Inc (NASDAQ:NTNX) will report on FQ1 2017 on November 29

Nutanix announced Monday that it will report on the results for the first quarter of its fiscal year 2017, which closed on October 31, 2016, on November 29, 2016, after the market closes. It will hold a conference call the same day.

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