Morgan Stanley expects Nutanix (NTNX) to guide FY26 conservatively with limited upside to Street expectations, so it remains “tactically risk off” into the Q4 report due on August 27. However, the firm would be buyers of any weakness given the long-term story, citing what it sees as a long runway left with VMWare customers and strengthening benefits from partnerships and targeting. The firm has an Overweight rating and $90 price target on Nutanix shares.
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