Nutanix price target raised to $50 from $38 at Morgan Stanley

Morgan Stanley analyst Meta Marshall raised the firm’s price target on Nutanix to $50 from $38 and keeps an Equal Weight rating on the shares. Fiscal Q1 outperformance was largely driven by federal and the ability to continue to outperform, particularly on margins and free cash flow, begins to make FY25 targets from the company’s analyst day “look more reasonable,” says the analyst, who was “encouraged” by the quarter but needs to determine pacing of share gains to have confidence in those targets.