BofA raised the firm’s price target on Nutanix (NTNX) to $95 from $85 and keeps a Buy rating on the shares following the company’s better than expected fiscal Q2 results. The firm “especially” liked that this was the second quarter in a row with new logo growth exceeding 50%; that Nutanix saw strength across all customer tiers; that partnerships such as with Cisco (CSCO) are helping to add new Logos; that Nutanix saw strength in both land and expand, as well as in renewals; and that Nutanix raised all FY25 guided metrics, the analyst tells investors.
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Read More on NTNX:
- Nutanix price target raised to $100 from $90 at Oppenheimer
- Nutanix price target raised to $95 from $83 at RBC Capital
- Nutanix price target raised to $91 from $81 at UBS
- Nutanix upgraded to Outperform from Market Perform at Northland
- Nutanix upgraded to Outperform at Northland with ARR growth inflecting
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