Hyperconverged infrastructure company NTNX gapped higher on Friday after Goldman Sachs published a highly favorable report on the company. It is currently at 22.2 so still in buying range using the low of the gap up as a selling guide. NTNX pioneered this technology in 2011 which provides networking and storage for businesses on a server. 18% of chief information officers (CIOs) say they expect to move to hyperconverged systems within two years, thus the space is quickly growing. NTNX's market cap of just over $3 billion means it has room to grow. Sales have been in the high double digit percentages over the last several quarters. Its main competition is in mega-cap companies such as CSCO, DELL, and VMW thus at a paltry $3 billion market cap could be ripe for a buyout.
Buyable Gap Up - NTNX 7-17-17
| Published: | 17 Jul 2017 09:41 ET |
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