Analyst Consensus ?
ConsensusBuy31 ratings
Bullish1961.3%
Neutral1238.7%
Bearish00.0%
Nutanix, Inc. · NTNX · FY2025 Q2 · Calendar Q1 2025
Nutanix raises FY2025 outlook as AI and new logos gain traction
The supplied analysis supports a constructive but conditional view: Nutanix showed stronger demand, new-logo momentum, and raised FY2025 guidance, while execution on AI, partnerships, PowerFlex, and investment discipline remains important to sustaining growth.
Reported After market closeNASDAQTechnology
$18.11B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.47
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $642.1M
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+10.4%
Event window
SPY move
-1.6%
Same window
Abnormal move
+12.0%
Stock minus SPY
Volume
5.2×
Versus trailing sessions
Subsequent drift
-6.0%
Up to 20 sessions
NTNXSPY benchmark
Ask FN2 about NTNX FY2025 Q2
Transcript, numbers and history already loaded
What drove NTNX's +10.4% move after FY2025 Q2 earnings?What changed in NTNX's guidance and outlook in FY2025 Q2?Give me the bull and bear case for NTNX after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management moved from maintaining full-year guidance to raising FY2025 revenue, margin, and free cash flow expectations. The current analysis also emphasizes stronger new-logo activity, continued AI investment, and the planned PowerFlex integration.
Guidance delta
Management raised FY2025 revenue guidance to $2.495-$2.515 billion, with non-GAAP operating margin guidance of approximately 17.5%-18.5% and free cash flow guidance of $650-$700 million.
Key takeaways
- Management reported Q2 revenue of $655 million and ARR of $2.06 billion, both above the top end of guidance.
- New-logo growth exceeded 50% year over year, with wins across energy, financial services, and healthcare.
- The company highlighted AI and GenAI offerings, AWS and OEM partnerships, and the upcoming PowerFlex integration as growth initiatives.
- The quarter's stronger outlook came alongside plans to increase sales, marketing, and R&D investment.
Management priorities
- Expand the AI and GenAI portfolio, including GPT-in-a-Box and Nutanix Enterprise AI.
- Integrate Dell PowerFlex and pursue the three-tier market.
- Deepen AWS and other cloud, OEM, and channel partnerships.
- Increase sales, marketing, and R&D investment while pursuing tuck-in acquisitions for portfolio gaps.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$66.94Current
$30Low
$68.52Average
$94High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 17, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Needham | Buy | Buy | Maintain | Sep 28, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 28, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Aug 27, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 27, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 27, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 27, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 27, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 27, 2026 |
| UBS | Buy | Buy | Maintain | Aug 25, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Aug 25, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | May 28, 2026 |
| B of A Securities | Buy | Buy | Maintain | May 28, 2026 |
| William Blair | Market Perform | Outperform | Downgrade | Mar 23, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 9, 2026 |
| Northland Capital Markets | Market Perform | Market Perform | Maintain | Nov 26, 2025 |
| Susquehanna | Positive | Positive | Maintain | May 29, 2025 |
| Raymond James | Market Perform | Outperform | Downgrade | May 20, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Feb 5, 2024 |
| OTR Global | Mixed | Positive | Downgrade | May 18, 2023 |
| Baird | Neutral | Outperform | Downgrade | Aug 28, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Feb 27, 2020 |
| Stifel | Hold | Hold | Maintain | Feb 27, 2020 |
| Bank of America | Buy | Buy | Maintain | Nov 26, 2019 |
| Piper Jaffray | Neutral | Neutral | Maintain | Aug 27, 2019 |
| Jefferies | Buy | Hold | Upgrade | Mar 11, 2019 |
| Maxim Group | Buy | Buy | Maintain | Mar 14, 2018 |
| BTIG Research | Buy | Neutral | Upgrade | Mar 9, 2018 |
| BTIG | Buy | Neutral | Upgrade | Mar 9, 2018 |
| Pacific Crest | Overweight | Overweight | Maintain | Nov 30, 2016 |
| PiperJaffray | Overweight | Overweight | Maintain | Oct 25, 2016 |
| Credit Suisse | Outperform | Outperform | Maintain | Oct 25, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $66.94. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Needham | Matt Calitri | $90 | $68.03 | +34.4% | Sep 28, 2026 |
| Northland Securities | Nehal Chokshi | $70 | $70.71 | +4.6% | Aug 27, 2026 |
| RBC Capital | Matthew Hedberg | $90 | $70.49 | +34.4% | Aug 27, 2026 |
| UBS | Analyst unavailable | $85 | $70.15 | +27.0% | Aug 27, 2026 |
| Needham | Mike Cikos | $85 | $65.39 | +27.0% | Aug 27, 2026 |
| Piper Sandler | James Fish | $75 | $65.39 | +12.0% | Aug 27, 2026 |
| Wells Fargo | Aaron Rakers | $65 | $65.39 | -2.9% | Aug 27, 2026 |
| UBS | Radi Sultan | $80 | $66.68 | +19.5% | Aug 25, 2026 |
| KeyBanc | Analyst unavailable | $75 | $67.64 | +12.0% | Aug 24, 2026 |
| Oppenheimer | Analyst unavailable | $80 | $66.2 | +19.5% | Aug 20, 2026 |
| RBC Capital | Analyst unavailable | $84 | $67.95 | +25.5% | Aug 14, 2026 |
| Northland Securities | Analyst unavailable | $47 | $47.53 | -29.8% | May 28, 2026 |
| Piper Sandler | Analyst unavailable | $60 | $47.52 | -10.4% | May 28, 2026 |
| UBS | Analyst unavailable | $62 | $48.06 | -7.4% | May 28, 2026 |
| RBC Capital | Analyst unavailable | $58 | $46.57 | -13.4% | May 28, 2026 |
| Needham | Mike Cikos | $60 | $46.57 | -10.4% | May 28, 2026 |
| Morgan Stanley | Sanjit Singh | $55 | $46.57 | -17.8% | May 28, 2026 |
| Wells Fargo | Analyst unavailable | $55 | $46.57 | -17.8% | May 28, 2026 |
| Northland Securities | Analyst unavailable | $43 | $39.41 | -35.8% | Apr 8, 2026 |
| Needham | Mike Cikos | $55 | $38.44 | -17.8% | Feb 26, 2026 |
| Wells Fargo | Aaron Rakers | $50 | $38.44 | -25.3% | Feb 26, 2026 |
| Morgan Stanley | Sanjit Singh | $56 | $37.38 | -16.3% | Feb 24, 2026 |
| RBC Capital | Analyst unavailable | $55 | $41.88 | -17.8% | Feb 11, 2026 |
| UBS | Analyst unavailable | $57 | $41.3 | -14.8% | Feb 9, 2026 |
| Goldman Sachs | Analyst unavailable | $60 | $40.26 | -10.4% | Feb 9, 2026 |
| Barclays | Tim Long | $53 | $51.44 | -20.8% | Jan 15, 2026 |
| Morgan Stanley | Sanjit Singh | $62 | $53.51 | -7.4% | Jan 12, 2026 |
| RBC Capital | Analyst unavailable | $65 | $50.6 | -2.9% | Jan 5, 2026 |
| Northland Securities | Analyst unavailable | $53 | $58.77 | -20.8% | Nov 26, 2025 |
| Morgan Stanley | Meta Marshall | $82 | $58.77 | +22.5% | Nov 26, 2025 |
| Needham | Mike Cikos | $65 | $48.98 | -2.9% | Nov 26, 2025 |
| Piper Sandler | James Fish | $72 | $58.77 | +7.6% | Nov 26, 2025 |
| KeyBanc | Brandon Nispel | $65 | $58.77 | -2.9% | Nov 26, 2025 |
| Wells Fargo | Aaron Rakers | $57 | $58.77 | -14.8% | Nov 26, 2025 |
| Barclays | Tim Long | $64 | $58.77 | -4.4% | Nov 26, 2025 |
| Oppenheimer | Analyst unavailable | $90 | $65.91 | +34.4% | Nov 17, 2025 |
| Northland Securities | Analyst unavailable | $76 | $71.15 | +13.5% | Oct 9, 2025 |
| Wells Fargo | Aaron Rakers | $71 | $64.36 | +6.1% | Aug 28, 2025 |
| Barclays | Analyst unavailable | $94 | $68.05 | +40.4% | Feb 27, 2025 |
| Raymond James | Analyst unavailable | $83 | $68.05 | +24.0% | Feb 27, 2025 |
| Piper Sandler | James Fish | $83 | $67.27 | +24.0% | Nov 27, 2024 |
| Morgan Stanley | Meta Marshall | $72 | $64.12 | +7.6% | Oct 28, 2024 |
| Raymond James | Simon Leopold | $85 | $62.56 | +27.0% | Aug 29, 2024 |
| Morgan Stanley | Meta Marshall | $71 | $52.29 | +6.1% | Aug 29, 2024 |
| Barclays | George Wang | $75 | $52.29 | +12.0% | Aug 29, 2024 |
| Raymond James | Simon Leopold | $76 | $60.05 | +13.5% | May 30, 2024 |
| Piper Sandler | James Fish | $76 | $59.96 | +13.5% | May 30, 2024 |
| Northland Securities | Nehal Chokshi | $71 | $73.29 | +6.1% | May 30, 2024 |
| Needham | Mike Cikos | $80 | $73.29 | +19.5% | May 30, 2024 |
| RBC Capital | Matthew Hedberg | $80 | $73.29 | +19.5% | May 30, 2024 |
| KeyBanc | Thomas Blakey | $79 | $59.62 | +18.0% | May 30, 2024 |
| Barclays | George Wang | $81 | $71.45 | +21.0% | May 23, 2024 |
| Raymond James | Simon Leopold | $72 | $66.21 | +7.6% | May 8, 2024 |
| Morgan Stanley | Meta Marshall | $63 | $62.22 | -5.9% | Mar 27, 2024 |
| Needham | Mike Cikos | $33 | $26.65 | -50.7% | Mar 7, 2023 |
| Morgan Stanley | Analyst unavailable | $30 | $32.76 | -55.2% | Dec 13, 2022 |
| Morgan Stanley | Analyst unavailable | $26 | $29.71 | -61.2% | Dec 1, 2022 |
| Wells Fargo | Analyst unavailable | $32 | $28.26 | -52.2% | Dec 1, 2022 |
| RBC Capital | Analyst unavailable | $31 | $28.66 | -53.7% | Nov 28, 2022 |
| RBC Capital | Matthew Hedberg | $24 | $22.44 | -64.1% | Sep 1, 2022 |
| Barclays | Tim Long | $22 | $18.14 | -67.1% | Aug 29, 2022 |
| Morgan Stanley | Meta Marshall | $18 | $15.8 | -73.1% | May 26, 2022 |
| Morgan Stanley | Meta Marshall | $31 | $26.01 | -53.7% | Apr 16, 2022 |
| JMP Securities | Erik Suppiger | $48 | $34.23 | -28.3% | Oct 27, 2021 |
| Oppenheimer | Ittai Kidron | $44 | $40.4 | -34.3% | Sep 2, 2021 |
| Piper Sandler | James Fish | $47 | $40.4 | -29.8% | Sep 2, 2021 |
| Bank of America Securities | Wamsi Mohan | $54 | $36.95 | -19.3% | Sep 1, 2021 |
| Goldman Sachs | Rod Hall | $39 | $39.6 | -41.7% | Jun 24, 2021 |
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Start freeCompany context
Snapshot as of publicationOperating across North America, Europe, the Asia Pacific region, the Middle East, Latin America, and Africa, Nutanix, Inc. delivers an enterprise cloud platform. Its foundational Acropolis platform integrates virtualization, enterprise-grade storage, and comprehensive networking visualization and security capabilities. This includes the Acropolis Hypervisor, a robust virtualization solution. For cloud-native deployments, Nutanix Karbon automates the provisioning, operation, and lifecycle management of Kubernetes clusters, complemented by the Nutanix Clusters solution. Management tools include Prism Pro, Nutanix Beam for cloud governance, and Nutanix Calm, an application marketplace offering automation to streamline application lifecycle management and enable potent hybrid cloud orchestration.…
Historical context
All NTNX earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| WIT Wipro Limited | FY2027 Q2 · Calendar Q4 2026 | -25.0% | +3.9% | Wipro: AI pipeline expands as Q3 guidance stays narrow |
| TSM Taiwan Semiconductor Manufacturing Company Limited | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -1.8% | TSMC beats Q3 guidance as AI demand drives fab expansion |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | FY2026 Q3 · Calendar Q4 2026 | +28.6% | +11.8% | Ericsson Q3: 7% organic growth, resilient margins and AI-led demand |
| ASML ASML Holding N.V. | FY2026 Q3 · Calendar Q4 2026 | +20.4% | -3.9% | ASML: Record Q3, strong AI demand and broader capacity plans |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-12T00:00:51.428704+00:00
- Polygon adjusted daily market bars · 2026-10-17T20:00:43.096372+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-17T20:00:43.093572+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-17. For educational purposes only; not investment advice.