RBC Capital analyst Matthew Hedberg raised the firm’s price target on Nutanix (NTNX) to $95 from $83 and keeps an Outperform rating on the shares. The company delivered a strong quarter with outperformance across the board highlighted by accelerating annual recurring revenue – ARR – growth and new logos, along with raised FY guidance, the analyst tells investors in a research note. Momentum continues to build around new logo incentive programs, VMware replacement interest, and OEM partnerships, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTNX:
- Nutanix price target raised to $91 from $81 at UBS
- Nutanix upgraded to Outperform from Market Perform at Northland
- Nutanix upgraded to Outperform at Northland with ARR growth inflecting
- Nutanix: Strong Performance and Promising Prospects Justify Buy Rating
- Nutanix price target raised to $88 from $83 at Piper Sandler