Northland lowered the firm’s price target on Nutanix (NTNX) to $53 from $76 and keeps a Market Perform rating on the shares. Bookings exceed management expectations, but based on RPO appears to have only grown about 10% year-over-year, implying cancelable bookings increased more than non-cancelable bookings, notes the analyst, who adds that guidance “disappoints.”
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTNX:
- Nutanix price target lowered to $65 from $80 at Needham
- Nutanix price target lowered to $65 from $78 at JPMorgan
- Nutanix price target lowered to $82 from $90 at Morgan Stanley
- Nutanix price target lowered to $72 from $88 at Piper Sandler
- Nutanix: Strong Fundamentals and Financial Resilience Justify Buy Rating Despite Revenue Timing Challenges