Needham Reiterates Buy Rating on Nutanix (NTNX)

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."

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 $39.50 yesterday.

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