Nutanix Analysts Boost Their Forecasts After Upbeat Earnings

Nutanix, Inc. NTNX reported better-than-expected first-quarter financial results on Tuesday.

Nutanix reported quarterly earnings of 42 cents per share which beat the analyst consensus estimate of 31 cents per share. The company reported quarterly sales of $590.96 million which beat the analyst consensus estimate of $571.78 million.

“During our first quarter we delivered outperformance across our guided metrics,” said Rajiv Ramaswami, President and CEO of Nutanix. “We also continued to bring innovations to the market supporting our vision of becoming the leading platform for running apps and managing data, anywhere, while strengthening our partner ecosystem.”

Nutanix said it sees FY25 revenue of $2.435 billion to $2.465 billion, non-GAAP operating margin of 16% to 17% and free cash flow of $560 million to $610 million.

Nutanix shares fell 7.4% to trade at $66.99 on Wednesday.

These analysts made changes to their price targets on Nutanix following earnings announcement.

Needham analyst Mike Cikos maintained Nutanix with a Buy and raised the price target from $80 to $90..

• Northland Capital Markets analyst Nehal Chokshi reiterated Nutanix with a Market Perform and raised the price target from $74 to $77.
• Barclays analyst Tim Long maintained the stock with an Overweight and increased the price target from $75 to $87.
• Morgan Stanley analyst Meta Marshall maintained Nutanix with an Overweight and raised the price target from $72 to $78.
• Piper Sandler analyst James Fish maintained Nutanix with an Overweight and raised the price target from $77 to $83.
• Wells Fargo analyst Aaron Rakers maintained the stock with an Equal-Weight and raised the price target from $60 to $75.

Considering buying NTNX stock? Here’s what analysts think:

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