Nutanix (NTNX) ACV Engagement Strategy Paying Off, Stifel Reiterates Hold Rating but Appears to be Warming

Stifel analyst Brad Reback reiterated a Hold rating on Nutanix (NASDAQ: NTNX) after attending the company's analyst day and finding the company's ACV engagement strategy appears to be more aligned with customers' buying patterns which should lead to operational stability.

The analyst stated "While we believe that Nutanix will benefit from increased predictability, lower costs and lower risk once the renewal base starts to renew subscriptions around FY23-FY25, we think that management's guidance delivered during the investor day may prove somewhat optimistic, but clearly the company is in a far better position than prior to Covid."

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 $38.93 yesterday.

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