Down 39% From All-Time Highs, Is Nutanix Stock Finally A Good Buy In 2026?

Key Takeaways:

• VMware Migration Opportunity: Nutanix is capturing significant market share from Broadcom’s VMware as enterprises seek alternatives.
• Price Projection: Based on current fundamentals, NTNX stock could reach $57 by July 2028.
• Potential Gains: This target implies a total return of 37% from the current price of $42.
• Annual Return: Investors could see roughly 14% growth over the next 2.5 years.

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Nutanix (NTNX) delivered solid first-quarter fiscal 2026 results with bookings slightly ahead of expectations and 18% year-over-year ARR growth to $2.28 billion.

However, revenue guidance was reduced due to timing issues of revenue recognition related to customer flexibility needs and partner shipping dynamics.

CEO Rajiv Ramaswami emphasized that business fundamentals remain healthy, with the revenue guidance change driven solely by the timing of recognition, not by demand weakness.

• The company actually raised its free cash flow outlook while maintaining unchanged bookings expectations for the full year.
• Nutanix benefits from the massive enterprise migration away from VMware following Broadcom’s acquisition. Companies are evaluating alternatives to manage virtualization and hybrid cloud infrastructure, creating substantial opportunities for Nutanix’s platform.
• The company won notable deals in Q1, including a…