Nutanix price target lowered to $63 from $72 at Piper Sandler

Piper Sandler analyst James Fish lowered the firm’s price target on Nutanix (NTNX) to $63 from $72 and keeps an Overweight rating on the shares. With a 2% beat and only $20M FY26 top-line guide cut, shares are pointed 15% higher as fears of a larger cut were overblown, the firm says. While a cut is never something Piper likes to see, and caused by macro-factors and not execution, the firm is encouraged by the highest net-new customer additions in 8 years, TCV bookings growing mid-teens and outpacing revenue growth this year, contribution from OEM partners, and the new AMD (AMD) partnership.