Nutanix price target raised to $75 from $60 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the firm’s price target on Nutanix (NTNX) to $75 from $60 and keeps an Equal Weight rating on the shares. The firm notes Nutanix delivered continued upside driven by steady enterprise demand and VMware dislocation. Wells stays on the sidelines as it sees balanced risk/reward. The firm expects pipeline conversion to take time and sees second half of 2025 uncertainty with large deal volatility plus opex investments.