Nutanix price target raised to $33 from $31 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Nutanix to $33 from $31 and keeps an Outperform rating on the shares. The company’s Q1 results and Q2 outlook were better-than-expected as the value of the platform and subscription model continue to resonate with customers, the analyst tells investors in a research note. Hedberg adds that the previous challenges around the supply chain and sales attrition are trending more favorably while the growing base of more profitable subscription renewals continues to drive results.