Market Overview

Nutanix Is Upending The IT Infrastructure Playbook

Share:
Nutanix Is Upending The IT Infrastructure Playbook
Related
Meet 2017's First Big Tech IPO
Nutanix Investors See War Clouds On The Horizon As Competition Intensifies
M&A Speculation, Trump And What It All Means For Cisco's Future (Seeking Alpha)

JPMorgan is impressed with Nutanix Inc (NASDAQ: NTNX), which released its first quarterly earnings as a public company, with results beating expectations across all metrics and second-quarter guidance also topping consensus.

Quarter In Review

Among the key metrics, calculated billings came in $30 million ahead of consensus, driven by “record level” performance in the Federal Sector, with bookings growth of 78 percent.

Nutanix noted that its OEM relationships also outperformed expectations, with the Dell partnership influencing a number of large deals in the quarter.

“We are very encouraged by the results and we expect Nutanix to continue to upend the IT infrastructure playbook, however, we think the risk/reward is fairly balanced for now at current price levels,” analyst Mark Murphy wrote in a note.

As such, Murphy maintains his Neutral rating, but raised the price target by $2 to $35.

Despite strong results, shares of Nutanix were trading lower. At last check, they were down 5.37 percent at $32.26.

Latest Ratings for NTNX

DateFirmActionFromTo
Nov 2016JP MorganMaintainsNeutral
Nov 2016KeyBancMaintainsOverweight
Nov 2016Pacific CrestMaintainsOverweight

View More Analyst Ratings for NTNX
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings News Guidance Price Target Reiteration Analyst Ratings Movers Best of Benzinga

 

Related Articles (NTNX)

View Comments and Join the Discussion!