Pacific Crest Starts Nutanix (NTNX) at Overweight
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Pacific Crest initiated coverage on Nutanix (NASDAQ: NTNX) with an Overweight rating and a price target of $37.
Analyst Alex Kurtz said, "We are initiating coverage of NTNX at Overweight with a $37 target given proprietary channel feedback that outlines strong end-customer demand for hyperconverged solutions as a key growth segment, and Nutanix as a leading brand. Best-in-class billings growth, led by an expanding software business, provides confidence in the longer-term margin outlook and justifies a premium valuation."
Shares of Nutanix closed at $29.77 yesterday.
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