Nutanix, Inc. (NTNX) Stock Price & How to Invest

Nutanix is an enterprise software company that pioneered hyperconverged infrastructure, software that combines compute, storage, and virtualization into a single, software-defined platform that runs on commodity hardware or in the cloud. Its core product lets enterprises run private clouds and manage applications across on-premises data centers and public clouds through one consistent operating environment. Nutanix has transitioned from selling hardware appliances to a pure software, subscription-based model, with revenue now recurring and measured in annual contract value and annual recurring revenue. A major opportunity has been the disruption in the virtualization market following Broadcom's acquisition of VMware and subsequent licensing and pricing changes, which has pushed many enterprises to evaluate alternatives like Nutanix's AHV hypervisor and broader cloud platform. Nutanix also offers database management, Kubernetes and container services, and disaster recovery, expanding its platform footprint. After years of losses during its subscription transition, the company has reached positive free cash flow and improving profitability. Founded in 2009 and headquartered in San Jose, California, Nutanix is a mid-cap enterprise-software company positioned in hybrid and private cloud infrastructure.

Nutanix competes against far larger players: Broadcom-owned VMware (still entrenched despite disruption), the public-cloud giants (AWS, Azure, Google Cloud) that want workloads to move off-premises entirely, and hardware-plus-software stacks from Dell, HPE, and Cisco. The VMware-disruption tailwind, while real, requires Nutanix to win competitive migrations that take time, and incumbents are responding. The secular shift of workloads to public cloud is a long-term headwind for on-premises infrastructure. Nutanix carries debt from earlier years, and stock-based compensation is elevated. As a mid-cap software name, the valuation depends on continued growth and margin expansion; any deceleration in new-customer wins, net expansion, or free-cash-flow progress could pressure the stock, which trades on growth and profitability improvement rather than deep value.

15 analysts publish price targets on NTNX, averaging $58.98 against a $59.32 price as of July 2026, or -0.6%. The published targets run from $47.00 to $65.00, a moderate spread, and the ratings split 9 buy, 8 hold, 0 sell. Over the last six months there have been 8 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full NTNX forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Nutanix, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. VMware disruption tailwind. Broadcom's acquisition of VMware brought licensing bundling and pricing changes that frustrated many enterprise customers, prompting them to evaluate alternatives. The most optimistic published target, $65.00, assumes this works close to its best case.

The case against. Nutanix competes against far larger players: Broadcom-owned VMware (still entrenched despite disruption), the public-cloud giants (AWS, Azure, Google Cloud) that want workloads to move off-premises entirely, and hardware-plus-software stacks from Dell, HPE, and Cisco. The most pessimistic target, $47.00, is roughly what NTNX is worth if this bites instead.

Read the full bull and bear case on NTNX, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Nutanix, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$2.5 billion
• Revenue growth: ~15-20% year over year
• Annual recurring revenue: ~$2 billion+, growing
• Gross margin: ~85%+ (software subscription)
• GAAP profitability: Around breakeven; non-GAAP profitable
• Free cash flow: Positive and growing
• Price to sales: ~8-10x
• Net dollar retention: Healthy, reflecting expansion within the base

Nutanix trades at a software multiple that reflects steady subscription growth, high gross margins, and an improving free-cash-flow profile, plus optionality from VMware-driven migrations. The valuation is more moderate than the highest-growth software names, sitting between value and growth. It is sensitive to new-customer momentum and margin progress, and re-rates with the pace of VMware-replacement wins.

If you want NTNX exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to NTNX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get NTNX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (SKYY, IJH), which spreads the position across many companies. Or build it into a focused thematic portfolio, so NTNX sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where NTNX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Nutanix (NTNX) is a hybrid-cloud infrastructure-software name whose case rests on winning VMware-replacement migrations while turning years of losses into positive free cash flow. In a portfolio it behaves as a moderate-multiple, mid-cap software holding sitting between value and growth, levered to the VMware-disruption theme but exposed to far larger rivals (VMware, the hyperscalers, Dell, HPE, Cisco) and the secular pull of workloads toward public cloud.

Whether NTNX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is NTNX a buy or a sell?, and where the stock could go from here in the NTNX stock forecast.

For income investors, whether NTNX pays a dividend and how the payout looks is covered in does NTNX pay a dividend? And to weigh NTNX against a peer, read the full side-by-side comparisons: NTNX vs AVGO and NTNX vs AMZN.