03-05-2019, 09:30 AM
Nutanix downgraded to Perform after guidance reset at Oppenheimer. As previously reported, Oppenheimer analyst Ittai Kidron downgraded Nutanix to Perform from Outperform, stating that its guidance reset "reflects an emptied pipeline and a shortfall in sales headcount additions." Stating that Nutanix has tried to do too much with too little for too long, Kidron sees a probability that its upcoming analyst day will reset the growth and margin bar lower, he tells investors.
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Nutanix rating change at Wells Fargo Wells Fargo downgrades Nutanix to Market Perform, cuts target to $45. Wells Fargo analyst Aaron Rakers downgraded Nutanix to Market Perform from Outperform and lowered his price target for the shares to $45 from $70. After the company's guidance came in well below expectations, the analyst says Nutanix has transitioned from a "momentum to prove-it story." Rakers is cautious on near term sales execution as the company looks to reaccelerate pipeline growth and transition to a subscription-based model in a "continually competitive market."
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Nutanix downgraded to Hold from Buy at Stifel. Stifel analyst Brad Reback downgraded Nutanix to Hold and lowered his price target for the shares to $39 from $55. While the company's fiscal Q2 results were largely in-line with Street forecasts, its Q3 outlook guidance fell "woefully short" of expectations as software and support revenue is targeted to grow in the high teens, Reback tells investors in a research note. He believes Nutanix's newer solutions have yet to reach the necessary scale to drive overall revenue growth rates.
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Nutanix analyst commentary at Jefferies Nutanix price target lowered to $42 from $48 at Jefferies. Jefferies analyst John DiFucci lowered his price target for Nutanix to $42 following the company's fiscal Q2 results and keeps a Hold rating on the shares. While the transition to a recurring revenue model is moving faster than expected, management lowered next quarter's revenue guidance by over $50M below the street, due to restrictive lead generation spending that impacted the sales pipeline, DiFucci tells investors in a post-earnings research note.