Nutanix Set To Outperform With Strong FCF And Hybrid Cloud Focus, Despite Macro Challenges: Analyst
Portfolio Pulse from Lekha Gupta
Nutanix Inc (NASDAQ:NTNX) reported better-than-expected Q4 FY23 earnings, leading to several analysts raising their price targets. The company's revenue increased by 28% Y/Y to $494.21 million, beating the consensus estimate of $475.16 million. Nutanix's board also authorized a share repurchase program of up to $350 million. Analysts are bullish on Nutanix's global strategic partnership with Cisco Systems Inc (NASDAQ:CSCO) related to simplifying hybrid multi-cloud and boosting business transformation.
September 01, 2023 | 5:48 pm
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POSITIVE IMPACT
Analysts are bullish on Cisco's global strategic partnership with Nutanix, which is expected to simplify hybrid multi-cloud and boost business transformation.
Cisco's partnership with Nutanix is expected to simplify hybrid multi-cloud and boost business transformation, which could potentially lead to increased business and a rise in the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nutanix reported better-than-expected earnings and authorized a share repurchase program, leading to raised price targets by analysts.
Nutanix's strong earnings report and share repurchase program are positive indicators for the company's financial health, which could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100