Benzinga | Jul 17, 2020 11:25AM EDT

Why Nutanix's Stock Is Trading Higher Today

Nutanix (NASDAQ:NTNX) shares are trading higher on Friday after The Information included the company in its "takeover target list" article.

Nutanix is a U.S.-based company that provides native hybrid cloud capabilities for businesses. The company offers Enterprise Cloud Platform to businesses for various uses such as web-scale engineering and consumer-grade design, virtualization and storage into a resilient, and software-defined solution. It generates most of its revenues through license fees and supports services. Geographically, it has operations in the US, Europe, the Middle East, Asia Pacific, Africa, and other regions.

Nutanix shares were trading up 9.99% at $22.20 during the time of publication on Friday. The stock has a 52-week high of $37.86 and a 52-week low of $11.31.