Needham analyst Mike Cikos reiterated a Buy rating and $55.00 price target on Nutanix (NASDAQ: NTNX).

The analyst commented: "We attended Nutanix's Investor Day at their .NEXT event, where management's Medium-term (FY29) target for Mid-/High-Teens ARR & Revenue growth far outpaced expectations. (For context, consensus is modeling growth of ~13% in FY27 and ~12% in FY28.) We view the positive announcement as demonstrating management's conviction in durable growth, supported by a consistent Net Expansion Rate where (1) newer offerings are maturing and (2) Nutanix recognizes benefits from standing up a Sales Specialist team over the last 12-18 months to increase Portfolio Attach. Notably, the TAM is expected to grow at a 14% CAGR from CY26 to CY29, fueled by Kubernetes Management and Enterprise AI...We view Nutanix as gaining share. Moreover, the new repurchase authorization provides enough firepower to buy back 7% of the 288 Million guided shares in 3QFY26."

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Shares of Nutanix closed at $39.50 yesterday.