KeyBanc analyst Brandon Nispel reiterated an Overweight rating and $65.00 price target on Nutanix (NASDAQ: NTNX).

The analyst commented: "Investor Day/.NEXT Takeaways - Supply Chain Holding Back Platform, for Now; We attended NTNX's analyst day and .NEXT conference. The event reinforced our LT conviction in NTNX, though also reinforced NT supply-chain/macro challenges beyond NTNX's control. From our view, we see: 1) a strong and growing partner ecosystem; 2) a growing TAM and increasingly addressable SAM that's seeking VMware alternatives; and 3) a compelling LT financial profile in a normalized environment. While we don't see the supply-chain factors getting any better in the NT (creating uncertainty in FY27), valuation is fairly compelling where we would encourage building positions at these levels."

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Shares of Nutanix closed at $39.50 yesterday.