Nutanix price target raised to $32 from $20 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the firm’s price target on Nutanix to $32 from $20 and keeps an Equal Weight rating on the shares. The analyst notes Nutanix delivered positive results and guidance and recorded its first quarter of profitability on a non-GAAP basis with the hyper-converged market showing resilience in the face of macroeconomic headwinds.