Nutanix pairs a wide moat, strong margins and a consistent earnings-beat record with a stock already trading above the analyst target, so the business is solid but the price leaves little room.
Thesis pillars
- Steady Double Digit Revenue Growth→Stable
- Wide Moat Strong Margins→Stable
- Consistent Earnings Beats→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Sep 18, 2026
Nutanix, Inc. (NTNX) Stock Analysis
Catalyst-Driven edge
Technology · Software - Infrastructure
Sell if holding. Momentum 3.4/10 is below the 5.0 floor at $63.70 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Cyclical risk: PE expanding 1.9x (earnings normalizing); Sector modifier (Technology): -0.8.
Nutanix sells a subscription-based hybrid cloud and AI infrastructure software platform, with a single reportable segment, to more than 32,000 end customers as of July 31, 2026. Term licenses run one to five years and are sold through distributors, resellers, OEM hardware... Read more
Sell if holding. Momentum 3.4/10 is below the 5.0 floor at $63.70 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Cyclical risk: PE expanding 1.9x (earnings normalizing); Sector modifier (Technology): -0.8. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.9/10, high confidence.
Passes 6/8 gates (favorable risk/reward ratio, clean insider activity, news events none recent, earnings proximity 20d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and 8k serious 2.05. Suitability: moderate.
About Nutanix, Inc.
About Nutanix, Inc.
Nutanix sells a subscription-based hybrid cloud and AI software platform to more than 32,000 end customers as of July 31, 2026, spanning financial services, retail, manufacturing, public sector, healthcare and telecommunications. The company reports one operating segment, licenses its software on terms of one to five years, and routes sales through distributors, resellers, OEMs and cloud partners, with its top two distributors accounting for 39% of total revenue in fiscal 2026.
The Nutanix Cloud Platform combines Nutanix Cloud Infrastructure (hyperconverged compute, storage and networking with the AHV hypervisor), Nutanix Cloud Manager, the Nutanix Kubernetes Platform, Nutanix Enterprise AI and Nutanix Unified Storage, and extends to AWS, Azure, Google Cloud and OVHcloud through Nutanix Cloud Clusters. Customers typically buy qualified hardware from channel partners or OEMs including Cisco, Dell, Fujitsu, HPE and Lenovo, and the platform now supports external storage such as Dell PowerFlex and PowerStore. Nutanix-branded NX servers are manufactured by Super Micro Computer under an agreement that renews annually in May, while distributors hold no hardware inventory. Named competitors include VMware by Broadcom, Microsoft and Red Hat, plus public cloud providers and traditional systems vendors such as Dell and HPE. A land-and-expand motion starts with a single workload and adds capacity, products and renewals over time.
Show full overview
Channel concentration and the VMware migration window are the two lenses that matter most. The top two distributors represented 47%, 41% and 39% of total revenue in fiscal 2024, 2025 and 2026, so the share is falling but would still make the loss or repricing of either distributor material. Broadcom's November 2023 acquisition of VMware has driven many customers to evaluate alternatives, though the 10-K cautions that some prospects remain under multi-year commitments and may migrate only part of their workloads in waves over an extended period. Support for external storage may also reduce sales of the core hyperconverged offering if the mix shifts.
See also: Technology · Software - Infrastructure
From Nutanix, Inc.'s most recent 10-K filing, extracted October 18, 2026.
Recent developments
No fresh coverage since Oct 7, 2026
Recent Developments — Nutanix, Inc.
Material events (past 30 days)
- 8K Oct 7, 2026 MEDIUM Item 5.02: Former President and Chief Commercial Officer Tarkan Maner signed a Transition Advisory Services Agreement on October 7, 2026 to serve as senior advisor for a twelve-month term, covering strategic opportunities and customer and partner transitions.
Latest news
- NEWS Earnings Flash (NTNX) Nutanix, Inc. Posts Q4 Adjusted EPS $0.60 per Share, vs. FactSet Est of $0.49 - marketscreener.com — marketscreener.com Aug 26, 2026 positive
- NEWS Nutanix Tops Estimates in Q4, Shares Jump - Benzinga — Benzinga Aug 26, 2026 positive
- NEWS Nutanix’s (NASDAQ:NTNX) Q2 CY2026: Beats On Revenue, Outlook For Next Year Is Optimistic - StockStory — StockStory Aug 26, 2026 positive
- NEWS Nutanix (NTNX) Stock Rises on Q4 2026 Earnings - Quiver Quantitative — Quiver Quantitative Aug 26, 2026 positive
- NEWS Nutanix’s (NASDAQ:NTNX) Q2 CY2026: Beats On Revenue, Outlook For Next Year Is Optimistic - FinancialContent — FinancialContent Aug 26, 2026 positive
Latest item Oct 7, 2026 · Generated 2026-11-05T11:39:30Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomertop two distributors39%10-K Item 1: 'Our top two distributors to our end customers represented 47%, 41% and 39% of our total revenue for fiscal 2024, 2025 and 2026, respectively'
- MEDIUMSupplierSuper Micro Computer NX hardware manufacturing10-K Item 1: 'The Nutanix-branded NX series hardware platforms are manufactured by Super Micro Computer, Inc.'
Material Events(8-K, last 90d)
- 2026-10-07Item 5.02MEDIUMFormer President and Chief Commercial Officer Tarkan Maner signed a Transition Advisory Services Agreement on October 7, 2026 to serve as senior advisor for a twelve-month term, covering strategic opportunities and customer and partner transitions.SEC filing →
- 2026-10-07Item 5.02LOWDirector Craig Conway notified the company on October 5, 2026 that he will not stand for re-election at the 2026 annual meeting; no disagreement with the company cited.SEC filing →
- 2026-09-24Item 5.02MEDIUMPresident and Chief Commercial Officer Tarkan Maner stepped down effective October 2, 2026; oversight of sales, marketing and customer experience moves to CEO Rajiv Ramaswami. No successor named.SEC filing →
- 2026-08-04Item 2.05MEDIUMAnnounced a global workforce reduction of about 5%, to be substantially complete by the end of October 2026, with estimated pre-tax charges of $33 million to $43 million, mostly severance.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Momentum 3.4/10 is below the 5.0 floor at $63.70 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Cyclical risk: PE expanding 1.9x (earnings normalizing); Sector modifier (Technology): -0.8. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $61.10. Score 5.9/10, high confidence.
Analyst target: $71.34 (+12.0% upside). Prior stop was $61.10. Stop-loss: $61.10.
Cyclical risk: PE expanding 1.9x (earnings normalizing); Sector modifier (Technology): -0.8; Leverage penalty (D/E 2.2): -1.5.
Nutanix, Inc. trades at a P/E of 12.3 (forward 23.8). TrendMatrix value score: 5.4/10. Verdict: Sell.
25 analysts rate NTNX, with a consensus score of 3.8/5. 15 analysts publish price targets averaging $79.
What does Nutanix, Inc. do?Nutanix sells a subscription-based hybrid cloud and AI infrastructure software platform, with a single reportable...
Nutanix sells a subscription-based hybrid cloud and AI infrastructure software platform, with a single reportable segment, to more than 32,000 end customers as of July 31, 2026. Term licenses run one to five years and are sold through distributors, resellers, OEM hardware partners such as Dell, HPE and Cisco, and public cloud partners. Its top two distributors were 39% of fiscal 2026 revenue.