Nutanix Inc: Strong quarter, FY26 guidance raised; PO to $65

研报英文原文证据摘录

Nutanix Inc: Strong quarter, FY26 guidance raised; PO to $65

Accessible version

Nutanix Inc

Strong quarter, FY26 guidance raised; PO

to $65

Reiterate Rating: BUY | PO: 65.00 USD | Price: 46.57 USD

Bookings outlook higher, FY guidance raised 28 May 2026

NTNX delivered a solid qtr and demand remains robust. TCV bookings expectations for Equity

the FY are higher relative to the last earnings call due to 1) longer contract durations

seen in the quarter, and 2) better renewals performance. Contract duration was 3.4 years

Key Changesin the qtr, higher than expected, given a higher mix of larger and longer duration

transactions across land/expand and renewals. Server lead times are normalizing but (US$) Previous Current

prices remain elevated and Nutanix did not experience any pull forward of demand in the Price Obj. 60.00 65.00

qtr. Despite the ongoing negative impact of server availability on timing of conversion of 2026E Rev (m) 2,828.6 2,832.3

bookings to revenue, mgmt. raised full-year guidance for revenue, operating margins and 2026E EPS 1.82 1.92

free cash flow. We continue to see further share gain against VMWare and long-term

upside from the partnerships with AMD, DELL, Cisco and Everpure. Reiterate Buy. Wamsi Mohan

Research Analyst

Early days for agentic AI, partnerships contributing well BofAS+1 646 855 3854

The agentic AI platform announced in February is starting to gain some traction with wamsi.mohan@bofa.com

customers experimenting with AI use cases. Mgmt. continues to see a multi-billion dollar RupluResearchBhattacharyaAnalyst

TAM around agentic AI. Revenues from the Cisco partnership continue to grow. The BofAS

+1 646 855 0315

partnership with Dell is still small, but growing, and mgmt. sees strong demand for using ruplu.bhattacharya@bofa.com