Nutanix Inc Stock Price, News & Analysis

Nutanix (NASDAQ: NTNX) announced that The Bar of Ireland has chosen its platform to develop a multicloud environment. This decision comes as the organization faces the challenge of upgrading its legacy infrastructure while adhering to budget constraints typical for non-profits. Nutanix offers on-demand scalability, cost predictability, and seamless workload migration, allowing for optimized resources across clouds. The platform's unified management console further simplifies IT operations, making it a suitable choice for The Bar of Ireland's digital transformation.

Nutanix (NTNX) announced the election of Virginia Gambale as the Chair of its Board, effective June 16, 2021. Gambale joined the Board in June 2020 and has served as Lead Independent Director. She will lead the board's agenda on governance and oversight while focusing on the company’s growth. The transition follows the departure of Dheeraj Pandey as Chair. Gambale, with over 20 years of board experience and a strong background in technology and finance, emphasized her commitment to driving sustainable value and expanding Nutanix's leadership in cloud software.

Nutanix (NASDAQ: NTNX) announced that Mercedes-Benz do Brasil Ltda. has selected its cloud platform for digital transformation of its IT infrastructure. This shift aims to enhance agility, streamline automation, and reduce costs. The legacy infrastructure was replaced, allowing for quicker installations and efficient system management. Key improvements include a 75% reduction in virtual machine installation time and a fivefold increase in installation rate. Mercedes-Benz plans to broaden its use of Nutanix solutions to other subsidiaries, enhancing its development processes.

Nutanix and Hewlett Packard Enterprise (HPE) have expanded their partnership to enhance hybrid and multicloud adoption. They will offer Nutanix Era, a database operations solution, bundled with HPE ProLiant servers as a managed cloud service via HPE GreenLake. This collaboration aims to streamline database management, reporting a 97% increase in database provisioning speed and a 60% reduction in storage requirements. The partnership achieved an 80% year-on-year increase in annual contract value bookings in early 2021, indicating significant market momentum.

Nutanix (NTNX) has launched the Nutanix Elevate Service Provider Program, enhancing its Elevate Partner Program to include global service providers. This initiative aims to help service providers enhance profitability and accelerate time-to-market by simplifying operations and addressing traditional vendor lock-in. IDC forecasts growth in the managed cloud services market to reach $101.1B by 2024. The program introduces two new partnership levels, offering benefits like training, marketing support, and financial incentives to empower service providers in delivering differentiated hybrid and multicloud services.

Nutanix (NASDAQ: NTNX) announced that Toyota Motor Corp has adopted its cloud platform to create a virtual desktop infrastructure (VDI) for its Engineering Design Group, enabling the use of 3D CAD software. This initiative, which includes support for approximately 1,000 devices, allows employees to work remotely and efficiently, especially crucial during the COVID-19 pandemic. The deployment was completed ahead of schedule and aims to reduce workstation costs by consolidating resources. Toyota plans to expand this system across its group companies in the future.

Nutanix (NASDAQ: NTNX) will present at two upcoming virtual financial events. The first is the William Blair 41st Annual Growth Stock Conference on June 1, 2021, at 12:00 p.m. PT; 3:00 p.m. ET. The second is the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 9:40 a.m. PT; 12:40 p.m. ET. Live webcasts and recordings will be available on the Nutanix Investor Relations website at ir.nutanix.com.

Nutanix (NTNX) announced strong financial results for Q3 FY2021, highlighting Annual Contract Value (ACV) billings of $159.9 million, an 18% increase year-over-year. The Run-rate ACV reached $1.45 billion, up 25% from last year. The average contract term decreased slightly to 3.3 years. CEO Rajiv Ramaswami expressed satisfaction with the company's ability to exceed guided metrics consistently. Additionally, CFO Duston Williams noted a record in ACV billings and effective cost management leading to operating expenses below guidance.