NTNX - Why Nutanix Stock Was Climbing This Week
2023-05-26 07:56:38 ET
Shares of Nutanix (NASDAQ: NTNX) were moving higher this week after the hyperconverged infrastructure specialist offered strong guidance in its fiscal third-quarter earnings report for the period ended April 30.
According to data from S&P Global Market Intelligence , the stock was up 15.8% for the week as of Thursday's close.
Nutanix underwent a multiyear transition to a subscription software company and a change in the way it measures and incentivizes sales, shifting its focus from total contract value to annual contract value. Those moves finally seem to be paying off.
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Why Nutanix Stock Was Climbing This Week