Nutanix price target lowered to $43 from $53 at Northland

Northland lowered the firm’s price target on Nutanix (NTNX) to $43 from $53 and keeps a Market Perform rating on the shares. The VMware opportunity is apparent, but the firm notes strong competition from Red Hat presents a lower opportunity for Nutanix. FY29 targets imply “steady business and a lack of acceleration,” says the analyst, who adds that the Nutanix analyst day “leaves us with unanswered questions.”