Yahoo Finance Nutanix (NTNX) and Wipro to Introduce New Business Unit
Nutanix NTNX has expanded its partnership with Wipro Limited WIT, a top technology services and consulting company to establish a new business unit. This collaboration aims to assist mutual clients in accelerating their digital and hybrid multicloud journeys while maximizing the value of their Nutanix Cloud investments.
The partnership merges Wipro FullStride Cloud's industry expertise with Nutanix Cloud Platform to enhance joint solution engineering and expand go-to-market strategies. The goal is to boost agility, speed and innovation for enterprises in order to develop more powerful, resilient and agile cloud operating models.
The collaboration will address the rising demand for hybrid multicloud, modernized application and database platforms, AI computing and edge modernization solutions. Through consulting, design and engineering efforts, the alliance aims to provide cutting-edge solutions to customers.
Wipro and NTNX will provide digital transformation services across various sectors, including banking, healthcare, and consumer and retail. WIT will tap into its domain experts and scale up technical competency in Nutanix solutions over the next two years.
Nutanix Price and Consensus
Nutanix price-consensus-chart | Nutanix Quote
NTNX’s Strength in Multicloud Platforms to Aid the Top Line
Nutanix's strength assists organizations in building hybrid multicloud platforms to run applications and data anywhere, including datacenter and the public cloud.
The company is renowned as the top provider of hyper-converged infrastructure (HCI) technology worldwide due to its uniquely developed software, offering unparalleled simplicity with one-click operations that no other HCI competitor can match.
Nutanix’s revenues climbed 16% year over year to $565.2 million in the second quarter of fiscal 2024, beating the Zacks Consensus Estimate by 2.43% and the guided range of $545-$555 million.
The top line was primarily driven by growth in NTNX’s core HCI software and the solid adoption of its new capabilities. The company continues to witness a strong adoption of its hybrid multi-cloud solutions across Fortune 100 and Global 2000 companies. This momentum is expected to continue in the upcoming quarters.
The Zacks Consensus Estimate for Nutanix’s 2024 revenues is pegged at $2.13 billion, indicating year-over-year growth of 14.37%. The consensus mark for earnings is pegged at $1.03 per share, indicating year-over-year growth of 71.67%.
Shares of this currently Zacks Rank #3 (Hold) company have risen 32.9% year to date compared with the Zacks Computer and Technology sector’s 9.1% growth due to tough competition from peers like Dell Technologies DELL and Cisco Systems CSCO. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Dell EMC brand offers a range of infrastructure solutions within the company. DELL has a wide variety of products marketed as hyper-converged systems to cater to different customer needs. Its main product is VxRail, which is a pre-built appliance introduced in 2016, along with VxRack SDDC, a software-defined solution designed for large-scale setups. Both of these products are developed in collaboration with VMware. Dell Technologies also offers XC Series appliances powered by Nutanix.
Cisco is a global company that offers networking, security and other IT infrastructure solutions. It introduced Cisco HyperFlex in April 2016. This solution comes as a ready-to-use appliance and combines CSCO's Unified Computing System, Intersight cloud-based management, third-party hypervisors, and HX data platform and storage management software into one.
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