Wamsi Mohan, an analyst from Bank of America Securities, reiterated the Buy rating on Nutanix (NTNX – Research Report). The associated price target is $95.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors that highlight Nutanix’s strong financial performance and strategic positioning. The company exceeded its guidance for the third fiscal quarter, with notable growth in product revenues and operating margins that surpassed expectations. This growth was partly driven by a significant deal that contributed to higher revenue recognition. Additionally, Nutanix’s net dollar-based retention rate remained robust, and the company experienced solid renewals and an expanding pipeline of larger deals.
Furthermore, Nutanix’s strategic partnerships with major players like Dell, Cisco, and Red Hat are expected to provide long-term benefits and competitive advantages, particularly against rivals like VMware. The company also raised its guidance for fiscal year 2025, indicating confidence in continued revenue growth, improved operating margins, and increased free cash flow. These positive developments, alongside the company’s ability to adapt to market dynamics and capitalize on partnership opportunities, underpin Mohan’s optimistic outlook and Buy rating for Nutanix.
According to TipRanks, Mohan is a 5-star analyst with an average return of 10.9% and a 59.48% success rate. Mohan covers the Technology sector, focusing on stocks such as Apple, Seagate Tech, and International Business Machines.
In another report released on May 20, Morgan Stanley also maintained a Buy rating on the stock with a $90.00 price target.