Fly News Breaks for September 9, 2019
Sep 9, 2019 | 06:28 EDT
Susquehanna analyst Mehdi Hosseini issued a double-upgraded of Nutanix (NTNX) to Positive from Negative, saying that after a 60% correction in its stock price from early 2018 highs, the worst for the company's transition to a subscription model may be in the past. The analyst notes that the new model sets up an "attractive and predictable" recurring revenue and billing stream, also raising the price target on the stock to $45 from $23. Hosseini further states that he is less concerned about the competitive dynamic and believes that Nutanix can "coexist" with VMware (VMW).
News For NTNX;VMW From the Last 2 Days
Feb 24, 2020 | 16:36 EST
Nutanix announced that, effective February 1, it appointed Aaron Boynton as Chief Accounting Officer to scale its global accounting function, and oversee all financial reporting and compliance efforts. Boynton joined Nutanix in 2013 and helped lead the accounting function through the company's significant growth and its IPO in 2016.