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3 Reasons Long-Term Nutanix Investors Remain Bullish

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3 Reasons Long-Term Nutanix Investors Remain Bullish

Nutanix Inc (NASDAQ: NTNX) shares are down after the company reported mixed results due to execution challenges as it focuses on larger enterprise accounts that would position the company for the long term.

John Lucia of JMP Securities reiterated his Market Outperform rating on Nutanix shares, despite lower-than-expected billings and third-quarter guidance, as he believes the company’s decision to move up-market signals its confidence in the enterprise arena.

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Lucia is also encouraged by the increased adoption of Acropolis Hypervisor, which was included on 21 percent of nodes shipped versus 7 percent in the year-ago quarter.

The analyst also pointed to Nutanix's statement that Dell is compensating EMC reps for Dell-Nutanix XC Series sales this month the first time since close of Dell-EMC deal.

That said, Lucia cut his price target by $3 to $35 to reflect slower growth this year.

At last check, shares of Nutanix had fallen 19 percent to $25.20.

Latest Ratings for NTNX

DateFirmActionFromTo
May 2019MaintainsEqual-Weight
May 2019ReiteratesBuy
May 2019MaintainsOverweight

View More Analyst Ratings for NTNX
View the Latest Analyst Ratings

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

 

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