NTNX - Nutanix Set To Outperform With Strong FCF And Hybrid Cloud Focus Despite Macro Challenges: Analyst | Benzinga
Several analysts raised price targets on Nutanix Inc (NASDAQ: NTNX) after it reported better-than-expected Q4 FY23 earnings.
The company reported a revenue increase of 28% Y/Y to $494.21 million, which beat the consensus estimate of $475.16 million, and adjusted EPS of $0.24, which beat analyst estimates of $0.16.
The company sees fiscal first-quarter revenue of $495 million- $505 million versus estimates of $487.22 million. The company expects full-year revenue to be $2.085 billion-$2.115 billion versus estimates of $2.08 billion.
Nutanix's board also authorized a share repurchase program of up to $350 million.
Related: Nutanix Analysts Raise Their Forecasts After Strong Results
KeyBanc Capital Markets analyst Thomas Blakey increased the price target to $45 from $35 and maintained an Overweight rating.
The analyst sees Nutanix's value proposition as increasing, mainly due to an increased focus on hybrid cloud architectures and related cost optimization.
Blakey expects available-to-renew (ATR) business ...