Nutanix price target lowered to $65 from $95 at KeyBanc

KeyBanc analyst Brandon Nispel lowered the firm’s price target on Nutanix (NTNX) to $65 from $95 and keeps an Overweight rating on the shares. The firm notes the company’s results were disappointing and impacted by timing delays, resulting in lowered revenue guidance. KeyBanc expects the stock to trade range-bound near-term, reflective of high single-digit growth for the next couple of quarters. While this does not appear to be a competitive issue, it does appear to be outside Nutanix’s control. From the firm’s point of view, the aspects within control such as strengthening its channel relationships, 3P hardware integrations, Cloud integrations, and new product roadmap, provide enough to be patient.