What happened
Shares of Nutanix (NASDAQ: NTNX) , a hybrid cloud-computing platform company, popped 23.1% last month, according to data provided by S&P Global Market Intelligence , after the company's stock received an analyst upgrade.
So what
Nutanix's share price has been highly volatile over the past year, but the latest hike was the result of Morgan Stanley analyst Katy Huberty upgrading the company's stock from equal-weight to overweight and raising its price target slightly from $57 to $58.
Part of Huberty's optimism for Nutanix comes from the fact that the company is expanding its cloud-computing software services and not just relying on its hardware products.
Nutanix's stock had already gained about 8% in January before Huberty's upgrade, but the share price jumped to a 24% gain for the month once she published the investor note.
Now what
Shares of Nutanix have been relatively flat so far this month -- they're up about 1% as of this writing -- but that could change once the company reports its second-quarter 2019 results on Feb. 28. Nutanix's management is expecting revenue in the range of $325 million to $335 million, which would be an increase of 15% at the midpoint compared to the year-ago quarter. With Nutanix's share price seemingly on a perpetual roller coaster, investors should expect more volatility when the company releases its quarterly results later this month.
10 stocks we like better than Nutanix
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor , has quadrupled the market.*
David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Nutanix wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of January 31, 2019
Chris Neiger has no position in any of the stocks mentioned. The Motley Fool recommends Nutanix. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
