Was Jim Cramer Right About Nutanix, Inc. (NTNX)?

We recently published a list of Was Jim Cramer Right About These 12 Stocks? In this article, we are going to take a look at where Nutanix, Inc. (NASDAQ:NTNX) stands against other stocks that Jim Cramer discusses.

Back in 2024, on May 217, a caller asked if Nutanix, Inc. (NASDAQ:NTNX) had more room to run after a sharp rally. Cramer noted the market’s love for enterprise software but cautioned on valuation.

“Nutanix is what the market wants right now. It’s enterprise software. Enterprise cloud platforms. People can’t get enough of it. They don’t seem to care about the valuation — they just buy, buy, buy. I have too much discipline to recommend that stock at this level.”

Cramer was wrong to be skeptical as the stock is up 20.01% since.

Nutanix, Inc. (NASDAQ:NTNX) has impressed the market with recurring revenue growth and demand for hybrid cloud and storage solutions.

Overall, NTNX ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of NTNX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NTNX and that has 100x upside potential, check out our report about this cheapest AI stock. cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.