BUZZ-Nutanix rallies ahead of S&P MidCap addition

Reuters
Sep 08
BUZZ-Nutanix rallies ahead of S&P MidCap addition

** Shares of cloud computing firm Nutanix NTNX.O up 5.6% at $73.85 on Mon as co set to join S&P MidCap 400 .IDX later this month

** NTNX shares rising for 4th straight session to one-mth high

** Nutanix to replace behavioral healthcare services co Acadia Healthcare ACHC.O in IDX effective before market open on Sept 22, as part of the quarterly rebalance, S&P Dow Jones Indices said late Fri

** In addition, credit bureau TransUnion TRU.N to replace employment services provider ManpowerGroup MAN.N in IDX that day

** TRU shares up 3.7% at $93.37 on Mon

** On Aug 28, NTNX shares fell ~5% to close at $66.06 after Wall Street analysts flagged slowing FY rev growth in wake of co's fiscal Q4 report

** San Jose, California-based Nutanix has ~268.1 mln shares outstanding for ~$18.7 bln market value through Fri

** With move on the session, shares up ~21% YTD compared to 13% advance in Nasdaq Composite .IXIC

** 17 of 19 analysts rate NTNX "strong buy" or "buy", rest rate hold and median PT is $90, LSEG data shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com ; 1-646-279-6380))

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