Market Overview

Nutanix Is Upending The IT Infrastructure Playbook

Share:
Nutanix Is Upending The IT Infrastructure Playbook

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
Dec 2020Morgan StanleyMaintainsEqual-Weight
Dec 2020OppenheimerUpgradesPerformOutperform
Nov 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for NTNX
View the Latest Analyst Ratings

 

Related Articles (NTNX)

View Comments and Join the Discussion!

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

Latest Ratings

StockFirmActionPT
MRTXHC Wainwright & Co.Maintains257.0
NVDATruist SecuritiesMaintains672.0
NVDASusquehannaMaintains625.0
BLKBMO CapitalMaintains715.0
BLKDeutsche BankMaintains838.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com