Nutanix (NASDAQ: NTNX) seemed to be on the cusp of breaking out at the end of 2020 thanks to the tech company's transition to a subscription-based business model and the growing demand for hyper-converged cloud infrastructure (HCI). Not surprisingly, Nutanix stock has beaten the broader market so far this year on the back of strong quarterly results.
Nutanix share prices touched a two-year high in late June after management painted a bright picture of its prospects on the recently-held investor day. Wall Street has also become bullish about Nutanix stock as at least seven analysts from investment firms have raised their price targets. All of this indicates that Nutanix is a top cloud stock to buy right now, and investors should consider going long if they haven't done so already. Let's see why.
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This Cloud Stock Is Turning Out to Be a Top Growth Play