Nutanix gains on Q1 profit beat

Nutanix

27/11/2024 10:41

** Shares of cloud services co Nutanix  NTNX.O  up 7.73% at
$77.94 premarket
    ** Co posts 15.6% rise in Q1 rev at $590.96 mln from a year
ago vs analysts avg estimate of $571.78 mln, per LSEG data
    ** Both J.P.Morgan and Piper Sandler lift PT to $83 from $75
and $77, respectively
    ** JPM says NTNX is in a position of strength to capitalize
on growing opportunities ahead from a product portfolio and
market position point of view
    ** "We are encouraged by the continued strong engagements 
on the new logo front, and a continued growth in pipeline," JPM
adds
    ** Avg rating of 18 brokerages covering the stock is "buy";
their median PT is $79 - LSEG
    ** Up to previous close, stock has risen ~52% YTD

 (Reporting by Joel Jose in Bengaluru)
 ((joeljose@thomsonreuters.com))