RBC Capital raised the firm’s price target on Nutanix to $43 from $38 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company’s execution was again impressive, highlighted by outperformance in ACV billings and revenue as well as strong free cash flows despite a challenging macro environment, the analyst tells investors in a research note. The $350M share repurchase program announced by Nutanix also “speaks highly of the maturation of the model”, the firm added.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NTNX: