Nutanix (NTNX) PT Raised to $75 at Piper Sandler following top-line acceleration

Piper Sandler analyst James Fish raised the price target on Nutanix (NASDAQ: NTNX) to $75.00 (from $60.00) while maintaining an Overweight rating.

The analyst commented: " External Storage & Cloud Help Acceleration; Shares are higher following a top-line acceleration with positive lead-metrics and a better than feared guide, which are largely supported by multiple growth drivers around externalstorage partnership contribution, VMware replacements, AI / Kubernetes, and future-startdate orders coming in. The team is continuing to monitor the on-going supply chain, and is working with customers on payment options that has impacted FCF guide near-term. The available-to-renew base is larger but slowing down as we expected it would have to, with the guide's onus seemingly on the future-start-dates flow-through (including some large recent govt. wins). The underlying drivers remain unchanged, and we see multiple growth opportunities + potentially higher FCF through the year as reasons to own at this level still. Reit. OW, PT to $75."

You May Also Be Interested In

• Wedbush Downgrades Tscan Therapeutics Inc (TCRX) to Neutral
• Credo Tech (CRDO) PT Lowered to $310 at JPMorgan, Overweight Rating Maintained
• Palo Alto Networks (PANW) PT Raised to $410 at Piper Sandler