16 Best Mid Cap Growth Stocks To Buy Now

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7. Nutanix Inc. (NASDAQ:NTNX)

Market Capitalization as of September 13: $14.57 billion

Number of Hedge Fund Holders: 48

Nutanix Inc. (NASDAQ:NTNX) is a cloud computing company that sells software for data centers and hybrid multi-cloud deployments, which includes software for virtualization, Kubernetes, database-as-a-service, software-defined networking, security, as well as software-defined storage for file, object, and block storage. The platform is designed to simplify IT operations, reduce costs, and improve agility for organizations of all sizes.

As businesses are prioritizing infrastructure modernization initiatives, the demand for this company’s solutions is increasing, as Nutanix Inc. (NASDAQ:NTNX) looks to adopt hybrid multi-cloud operating models. In the fourth fiscal quarter quarter, it delivered a revenue of $547.95 million, up 10.87% year-over-year. This quarter also saw the highest number of new logos in 3 years.

Strategic partnerships with Cisco, Dell, and NVIDIA enhance market reach and innovation. The Dell XC Plus, the company’s new turnkey HCI appliance, is now available. It also launched innovative products like GPT-in-a-box to streamline GenAI adoption and Nutanix Data Services for Kubernetes (NDK) for consistent data services across environments.

In FQ4, it won a multi-million dollar ACV deal with a North-American based Fortune 100 financial services company. Other key wins include an EMEA-based research provider migrating workloads to the public cloud using its NC2 capability through Azure, and an Asia-based Global 2000 semiconductor provider. The company also gained a top North American university as a new customer for cloud migration.

The company aims to become the leading platform for modern applications and is poised to capitalize on industry disruptions and gain market share moving forward, which is why we count it as one of our top mid-cap stocks to buy now.

Carillon Chartwell Small Cap Value Fund made the following comment about Nutanix, Inc. (NASDAQ:NTNX) in its Q3 2023 investor letter:

“Within the Carillon Chartwell Small Cap Growth Fund, information technology and industrials were the strongest-performing sectors, with strong stock selection leading to alpha generation. The new management team at Nutanix, Inc. (NASDAQ:NTNX) continues to execute well, delivering another positive quarterly earnings surprise. Nutanix’s core hyperconverged infrastructure (HCI) technology continues to gain market share over its competitors.”

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