BofA lowered the firm’s price target on Nutanix (NTNX) to $75 from $93 and keeps a Buy rating on the shares after a fiscal Q1 that came in mostly in-line with the Street outside of a “slight miss” on revenue. While full year bookings growth expectations remain unchanged, more revenue is shifting from FY26 into future periods and management lowered FY26 rev guidance by about $80M, notes the analyst, who cites both adjusted estimates and a lower multiple to account for the delay in revenue recognition and potentially higher than historical variability in revenues from Federal for the firm’s lower target.
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