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Publication Date: 2026-08-04 07:00:00
Investing.com – Needham reiterated a Buy rating and $55.00 price target on following the company’s Investor Day at its .NEXT event. The stock currently trades at $39.50, down 44% over the past six months, though InvestingPro analysis suggests the company remains undervalued at current levels.
The firm said management’s medium-term target for fiscal 2029 calls for mid-to-high-teens ARR and revenue growth, exceeding current expectations. Consensus estimates model growth of approximately 13% in fiscal 2027 and 12% in fiscal 2028.
Needham views the announcement as demonstrating management’s conviction in durable growth, supported by a consistent net expansion rate. The firm cited newer offerings maturing and benefits from a sales specialist team established over the past 12 to 18 months to increase portfolio attach.
The total addressable market is expected to grow at a 14% compound annual growth rate from calendar 2026 to 2029, fueled by Kubernetes management and enterprise AI. Needham views Nutanix as gaining market share.
The new repurchase authorization provides capacity to buy back 7% of the 288 million shares guided in third-quarter fiscal 2026, according to the firm. This aligns with an InvestingPro Tip noting management has been aggressively buying back shares. For deeper analysis, investors can access Nutanix’s comprehensive Pro Research Report, available for this and 1,400+ other US equities.
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