Here's Why KeyBanc Sees 39% Upside In Nutanix

KeyBanc analyst Thomas Blakey initiated coverage of Nutanix Inc NTNX with an Overweight rating and a $39 price target, suggesting an upside of 38.74%.
The recent acceleration, new product cross-sell, and go-to-market partnerships have influenced his above-Street revenue and ACV billings outlook.
Blakey further notes that he sees potential rerating with about 50% of revenue from subs by FY24 and ramp in free cash flows that offer further upside.
Nutanix provides native, hybrid cloud capabilities for businesses. The company offers Enterprise Cloud Platform to businesses for web-scale engineering and consumer-grade design, virtualization, and storage into a resilient and software-defined solution.
Price Action: NTNX shares traded higher by 3.17% at $29.00 in the premarket session on the last check Wednesday.

Momentum84.76

Growth51.13

QualityNot Available

Value5.07

Short

Medium

Long

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