Nutanix Analysts Cut Their Forecasts After Q1 Earnings

Core Insights - Nutanix, Inc. reported worse-than-expected first-quarter financial results and cut its FY26 sales guidance below estimates [1] - The company posted revenue of $670.58 million, slightly below estimates of $676.75 million, while adjusted EPS was 41 cents, in line with expectations [1] - Nutanix expects second-quarter revenue between $705 million and $740 million, lower than the estimate of $749.09 million, and has revised its full-year revenue outlook for FY26 to $2.82 billion to $2.86 billion, down from the previous estimate of $2.92 billion [2] Analyst Reactions - Needham analyst Mike Cikos maintained a Buy rating on Nutanix but lowered the price target from $80 to $65 [4] - B of A Securities analyst Wamsi Mohan also maintained a Buy rating while reducing the price target from $93 to $75 [4] - Keybanc analyst Brandon Nispel kept an Overweight rating and cut the price target from $95 to $65, while Piper Sandler analyst James Fish reiterated an Overweight rating and lowered the price target from $88 to $72 [4] Market Reaction - Following the earnings announcement, Nutanix shares dipped 15.5% to trade at $49.69 [2]