Analyst Meta Marshall of Morgan Stanley maintained a Buy rating on Nutanix (NTNX – Research Report), retaining the price target of $85.00.
Meta Marshall has given his Buy rating due to a combination of factors that highlight Nutanix’s strong position in the market. The company has shown significant momentum, particularly with customers transitioning from VMware, which has been a key driver of recent performance. This transition has been facilitated by refined targeting and effective partnerships and channel incentives, which have started to yield positive results.
Furthermore, Nutanix is poised to benefit from customers reevaluating their long-term IT architectures and minimizing reliance on VMware. Despite previous challenges in the US Federal sector, there has been an improvement, and the upcoming release of the Dell PowerFlex solution is expected to further bolster Nutanix’s prospects. These elements collectively support the Overweight thesis and justify the Buy rating, as Nutanix continues to capture market share and strengthen its pipeline.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTNX in relation to earlier this year.