Nutanix (NTNX) PT Raised to $95 at RBC Capital on 'Strength in Logos'

RBC Capital analyst Matthew Hedberg raised the price target on Nutanix (NASDAQ: NTNX) to $95.00 (from $83.00) while maintaining an Outperform rating.

The analyst commented: "Strength in logos; Nutanix delivered a strong quarter with outperformance across the board highlighted by accelerating ARR growth and new logos along with raised FY guidance. Momentum continues to build around new logo incentive programs, VMware replacement interest and OEM partnerships. This coupled with general pipeline maturity drove the solid quarter and outlook rather than any large-deals or one-off dynamics. We come away from the quarter feeling like this could be an inflection point for Nutanix to steadily capitalize on its multi-year growth strategy. Maintain our OP rating and raise our PT to $95 from $83 on increased estimates."

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