Piper Sandler on Nutanix (NTNX): 'Buy the Previewed Dip'

Piper Sandler analyst James Fish reiterated an Overweight rating and $88.00 price target on Nutanix (NASDAQ: NTNX).

The analyst commented: "Buy the Previewed Dip, Clearing Event on Guide; We had previewed that the setup here was challenging around lead metrics like FQ4 billings and ARR, in addition to concerns around the FY26 expectations given the available-torenewal base slowdown. The FQ4 dynamics were confirmed on the print, and while FY26 guide came in better than expected, the assumptions you have to make to get there implies more aggression than we normally see from Nutanix (excluding large deals coming in). Positively though - the narrative isn't changing here: the VMware opportunity is still very early, partners like Cisco & Dell are contribution (with Pure contribution around the corner), and FCF continues to slide higher. Given the slight pullback here but the unchanged narrative, we are recommending investors buy this dip as a clearing event as 2026 should be a good new-business year (including with large customers). Reit. OW, $88 PT."

For an analyst ratings summary and ratings history on Nutanix click here. For more ratings news on Nutanix click here.

Shares of Nutanix closed at $69.60 yesterday.

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