Nutanix (NTNX) VAR Checks Point to Billings Upside - BofA Securities

BofA Securities analyst Wamsi Mohan reiterated a Buy rating and $39.00 price target on Nutanix (NASDAQ: NTNX) after checks indicate to solid traction at Nutanix focused VARs.

The analyst stated "We expect upside to ACV billings at $160mn vs. guidance of $150-155mn as enterprise demand has improved. We maintain our Buy rating as we expect the stock to rerate once investors gain confidence around the business model transition and as the company continues to deliver operating leverage. Last quarter was a demonstration of the company’s focus on growth but also improving the profit trajectory through cost discipline, driven by new CEO Rajiv Ramaswami. We expect continued focus on cost to drive better operating leverage".

For an analyst ratings summary and ratings history on Nutanix click here. For more ratings news on Nutanix click here.

Shares of Nutanix closed at $30.97 yesterday.

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