RBC Capital analyst Matthew Hedberg raised his price target on Nutanix to $58 after the company's Investor Day presentation forecast a billings expansion to reach $3B by FY21. Hedberg notes that the company's position as a "disruptive force in cloud computing" offering technology that leads to above-average growth and margin expansion gives him confidence in Nutanix strategy to achieve its forecasts. The analyst keeps his Outperform rating, adding that the shift toward recurring revenues from the company's growing software business is not reflected in the valuation.