By Caitlin Houston

Shares of Nutanix Inc. closed up 9% Friday after Goldman Sachs added the stock to their conviction list, saying it has an estimated 53% return potential to their $31 price target.

Nutanix NTNX, -1.56%  is poised for growth as the leader in hyperconverged infrastructure, meaning it uses software to combine different storage and computing function on one device, the analysts said. That space has been heating up among enterprises, and Nutanix will likely also see a boon as its adapts to new accounting rules in August.

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Source: MarketWatch