10 Unstoppable Tech Stocks to Buy Right Now

5. Nutanix Inc. (NASDAQ:NTNX)

Upside Potential: 22%

Number of hedge funds: 50

Nutanix, Inc. (NASDAQ:NTNX) provides software-defined hyperconverged infrastructure (HCI) platforms that combine computing, storage, networking, and virtualization into a single solution. This platform simplifies cloud complexity, allowing businesses to seamlessly operate applications and manage data across public and private clouds, data centers, on-premises, and edge locations.

Nutanix, Inc. (NASDAQ:NTNX) bases its investment case on the secular trends of hybrid multicloud adoption and generative AI. The company has established a leadership position in the HCI market and projects a $76 billion total addressable market by FY 2027, offering substantial growth potential. In mid-December 2024, UBS initiated coverage on Nutanix with a Buy rating and a price target of $81, indicating a 27% upside. Around the same time, a Morgan Stanley analyst named it as a Top Pick with an unchanged Overweight rating and raised the price target to $85 from $78. The positive outlook is based on the view that Nutanix, Inc. (NASDAQ:NTNX) and similar stocks are entering 2025 with healthier budgets, better inventory positions, and improved valuations, following a softer IT spending environment in 2024. Over the past year, the company’s share price increased by 24%, matching the performance of the S&P 500 Index.