KeyBanc analyst Thomas Blakey initiated coverage of Nutanix Inc. with an Overweight rating and a $39 price target, suggesting an upside of 38.74 Percent.
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 Percent 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.
By Anusuya Lahiri
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