Needham lowered the firm’s price target on Nutanix (NTNX) to $65 from $80 and keeps a Buy rating on the shares after its in-line Q1 results and guidance cut. Late in the quarter, the company saw a greater mix of orders with future start-dates, which does not impact free cash flow but detracts from in-quarter revenue, the analyst tells investors in a research note. If business with future start-dates aligned with assumptions, Nutanix would have outperformed the high-end of revenue, the firm added.
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