Nutanix price target raised to $65 from $54 at JPMorgan

JPMorgan analyst Pinjalim Bora raised the firm’s price target on Nutanix to $65 from $54 and keeps an Overweight rating on the shares. While optimistic on Nutanix’s fundamentals based on solid positive feedback from a couple of key channel contacts, as well as an “achievable setup for numbers,” the analyst is “slightly cautious” on the share price reaction through the earnings print, given the rapid rise in the stock. Recent channel conversations point to a strong end to the year, especially in Europe, highlighting growth in expansions as well as net-new logos, while the VMware opportunity continues to gather momentum, the analyst tells investors in a research note.