Goldman Sachs analyst Matthew Martino reiterated a Buy rating and $60.00 price target on Nutanix (NASDAQ: NTNX)

The analyst comments "Nutanix delivered solid F3Q results with Revenue +2.4% above Consensus, ARR +0.6%, OpM +500 bps and FCF +37%. The stock is indicated +4% AH, which we attribute to the raised FY26 revenue (and FCF) guide following back-to-back cuts in F1Q and F2Q – an encouraging sign that execution is starting to stabilize despite a still-constrained supply chain backdrop. The quarter also provided better support for the underlying demand picture, in our view, with TCV bookings up +20% (vs. mid-teens in F1H), healthy new logo activity with +700 net adds (vs. +620 in F3Q25), and Management again indicating that FY26 TCV bookings expectations are now higher than they were exiting the prior quarter. That said, we do not expect the debate to be put to rest on this print, as NRR decelerated again to +106% (vs. +107% prior Q) and F4Q revenue guidance came in -1% below Street, which Management attributed to Middle East headwinds alongside extended server lead times continuing to push bookings-to-revenue conversion further out, consistent with the mixed channel feedback highlighted in our preview. Separately, Management noted some normalization in server lead times across select OEMs in F3Q but was also clear that elevated hardware pricing and broader supply-chain friction are still expected to persist through FY27, leaving visibility on the path from firmer bookings to cleaner revenue conversion somewhat limited. Bottom line: F3Q was a step in the right direction, with the bookings inflection a clear positive, though we think the broader setup still has room to firm from here."

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Shares of Nutanix closed at $46.57 yesterday.