BofA lowered the firm’s price target on Nutanix (NTNX) to $60 from $75 and keeps a Buy rating on the shares. Nutanix delivered a “solid” quarter and raised full-year bookings expectations, but lowered revenue and free cash flow expectations due to server supply constraints, the analyst tells investors. While FY26 is weaker given the delayed starts, the firm is “encouraged” by the higher expected bookings growth and continues to see further share gain against VMWare and long-term upside from the partnerships with AMD (AMD), Dell (DELL), Cisco (CSCO) and Red Hat (IBM).
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