Nutanix price target raised to $90 from $80 at Needham

Needham raised the firm’s price target on Nutanix (NTNX) to $90 from $80 and keeps a Buy rating on the shares. Nutanix reported a strong quarter, with significantly stronger operating margin and healthy revenue outperformance, the analyst tells investors in a research note. Management left its FY25 outlook unchanged, which Needham says is a conservative approach where Nutanix has just closed the first book of the quarter, and notes that management has built a solid track record of appropriately setting expectations.