10 Best Growth Stocks Under $100 to Buy Now

8. Nutanix, Inc. (NASDAQ:NTNX)

Number of Hedge Fund Holders: 51

Expected EPS CAGR in the next 5 years: 21.70%

Nutanix, Inc. (NASDAQ:NTNX) is a cloud computing company that provides hyperconverged infrastructure (HCI) and hybrid multicloud solutions for enterprises. Its software platform integrates computing, storage, and networking to simplify IT operations, enabling organizations to manage applications and data across private and public clouds. The company’s product portfolio includes its core HCI software, database management, desktop virtualization, and cloud management tools. NTNX primarily operates on a subscription-based model, serving industries such as healthcare, finance, government, and education.

Nutanix, Inc. (NASDAQ:NTNX) has evolved from its initial HCI offering to become a comprehensive hybrid multi-cloud platform that enables companies to run applications both on-premises and in public clouds like AWS and Azure. The company has expanded its capabilities to include a complete cloud-native platform for Kubernetes applications and enterprise AI solutions, positioning itself as a platform for both current and future computing needs. In terms of market dynamics, NTNX is seeing strong momentum in VMware customer transitions, with 78% of new sales utilizing their own hypervisor and approximately 90% of their 700 new customers starting with Nutanix’s hypervisor solution. The company has strengthened its strategic partnerships, particularly with Cisco and Dell, while also establishing relationships with major cloud providers like AWS for workload migration.

On the financial front, Nutanix, Inc. (NASDAQ:NTNX) has improved its balance sheet position through a recent convertible note issuance of $862.5 million and established a $500 million revolving credit facility, while maintaining focus on strategic investments and share buybacks. The company is actively implementing AI internally to enhance productivity, particularly in areas such as customer support, software development, and legal operations, demonstrating practical applications of its technology. Given the aforementioned developments, NTNX is one of the best growth stocks to buy under $100.