Thoughts Ahead of Nutanix’s Upcoming Q4 Results

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RBC Capital analysts provided their outlook on Nutanix, Inc. (NASDAQ:NTNX) ahead of the upcoming Q1 results, expected to be announced on Nov 30.
The analysts expect in-line results following stabilizing Q4/22 dynamics. While macro challenges remain, the analysts said they will be watching for further consistency/improvements around renewals, sales attrition following a new CRO and the new product portfolio.
With the increased focus on profitable growth, they will also watch for the trajectory to positive free cash flow/operating income with both guided to be positive for fiscal 2023.
The analysts raised their price target on the company’s shares to $31 from $24 while maintaining their Outperform rating.

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