Nutanix price target lowered to $78 from $81 at JPMorgan

JPMorgan analyst Samik Chatterjee lowered the firm’s price target on Nutanix (NTNX) to $78 from $81 and keeps an Overweight rating on the shares as part of an earnings preview. The off-cycle hardware earnings reporters face investor concerns about the sustainability of artificial intelligence demand, which has “moderated the AI-led valuation premiums,” the analyst tells investors in a research note. However, the firm expects near-term revenue and earnings upsides from AI-leveraged companies to reassure investors.