BUZZ-Nutanix rallies ahead of S&P MidCap addition
Nutanix shares rose 5.6% to $73.85 as the company prepares to join the S&P MidCap 400 later this month, replacing Acadia Healthcare. This marks the fourth consecutive session of gains for Nutanix, reaching a one-month high. The stock has increased approximately 21% year-to-date, outperforming the Nasdaq Composite. Analysts remain optimistic, with 17 of 19 rating it as a "strong buy" or "buy," and a median price target of $90.
Shares of cloud computing firm Nutanix (NTNX.O) up 5.6% at $73.85 on Mon as co set to join S&P MidCap 400 (.IDX) later this month
NTNX shares rising for 4th straight session to one-mth high
Nutanix to replace behavioral healthcare services co Acadia Healthcare (ACHC.O) in IDX effective before market open on Sept 22, as part of the quarterly rebalance, S&P Dow Jones Indices said late Fri
In addition, credit bureau TransUnion (TRU.N) to replace employment services provider ManpowerGroup (MAN.N) in IDX that day
TRU shares up 3.7% at $93.37 on Mon On Aug 28, NTNX shares fell ~5% to close at $66.06 after Wall Street analysts flagged slowing FY rev growth in wake of co’s fiscal Q4 report
San Jose, California-based Nutanix has ~268.1 mln shares outstanding for ~$18.7 bln market value through Fri
With move on the session, shares up ~21% YTD compared to 13% advance in Nasdaq Composite (.IXIC)
17 of 19 analysts rate NTNX “strong buy” or “buy”, rest rate hold and median PT is $90, LSEG data shows (Lance Tupper is a Reuters market analyst. The views expressed are his own)
