BUZZ-Nutanix gains on Q1 profit beat

Reuters11-27
BUZZ-Nutanix gains on Q1 profit beat

** Shares of cloud services co Nutanix NTNX.O up 7.73% at $77.94 premarket

** Co posts 15.6% rise in Q1 rev at $590.96 mln from a year ago vs analysts avg estimate of $571.78 mln, per LSEG data

** Both J.P.Morgan and Piper Sandler lift PT to $83 from $75 and $77, respectively

** JPM says NTNX is in a position of strength to capitalize on growing opportunities ahead from a product portfolio and market position point of view

** "We are encouraged by the continued strong engagements on the new logo front, and a continued growth in pipeline," JPM adds

** Avg rating of 18 brokerages covering the stock is "buy"; their median PT is $79 - LSEG

** Up to previous close, stock has risen ~52% YTD

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))

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