Nutanix, Inc. (NASDAQ: NTNX) is having a rough Thanksgiving Eve on Wall Street. After reporting fiscal Q1 2026 results yesterday, the hybrid multicloud software provider is seeing its stock hammered today as investors digest a modest revenue miss, lowered revenue guidance, and a wave of analyst price‑target cuts.
Below is a detailed look at Nutanix stock today, November 26, 2025, plus all of today’s key news catalysts around NTNX.
Nutanix (NTNX) stock price today
As of the latest late‑morning U.S. trading data on November 26, 2025, Nutanix shares are:
- Around $48–49 per share, down roughly 18% on the day.
- Intraday range: about $48 to $53, after opening at $51.28.
- New 52‑week low: today’s move has pushed NTNX to a fresh 52‑week low in the high‑$40s, versus a prior range that had bottomed just above $51.
- Volume: over 11 million shares traded, already nearly 3× its recent average daily volume of around 3.7–3.9 million shares, signaling heavy institutional participation in the sell‑off.
In other words, this is not a minor wobble. NTNX is experiencing a high‑volume, double‑digit percentage drop that re‑prices the stock sharply lower after a strong run earlier in 2025.
Q1 FY26 earnings at a glance: strong ARR, solid cash flow, small revenue miss
Nutanix reported results for its fiscal first quarter 2026 (three months ended October 31, 2025) after the close on November 25.
Key figures:
- Revenue:
- $670.6 million, up 13% year‑over‑year from $591.0 million.
- Slightly below consensus estimates of about $676–677 million, a miss of roughly $6 million (‑0.8%).
- Earnings:
- GAAP net income: $62.1 million.
- GAAP EPS: $0.21 diluted.
- Non‑GAAP EPS:$0.41, exactly in line with Wall Street expectations.
- Annual Recurring Revenue (ARR):
- $2.28 billion, up 18% year‑over‑year.
- Profitability & cash flow:
- Non‑GAAP operating income: $131.8 million (up from $118.2 million a year ago).
- Free cash flow: $174.5 million, up from $151.9 million.
Management highlighted “solid demand” for the Nutanix Cloud Platform, with bookings slightly ahead of expectations, continued strong ARR growth, and “solid free cash flow performance.” GlobeNewswire+1
So why is the stock getting hit so hard?
What spooked the market: guidance cut and revenue timing shifts
The core of today’s sell‑off is not the quarter just reported, but the outlook and the mechanics of revenue recognition.
Lowered revenue guidance
Nutanix’s Q2 FY26 and full‑year guidance came in below Street expectations:
- Q2 FY26 revenue:
- Guided to $705–715 million, versus consensus around $749 million.
- Full‑year FY26 revenue:
- Now $2.82–2.86 billion, down from prior projections of $2.90–2.94 billion.
- Full‑year free cash flow: raised to $800–840 million, implying stronger profitability and cash generation even as revenue growth moderates.
CFO Rukmini Sivaraman explained that late‑quarter deal timing caused some revenue to shift from Q1 into future periods, and that this “dynamic” is expected to continue and has been baked into future guidance. GlobeNewswire+1
In plain English: demand and bookings look fine, but more of the economics are showing up in deferred revenue and ARR, rather than near‑term reported revenue.
Revenue recognition delays and “timing issues”
Several outlets today explicitly link the stock’s drop to these revenue‑timing and guidance concerns:
- Seeking Alpha notes that Nutanix “slumps” after Q1 revenue and FY26 outlook fell short of expectations and highlights the shift of revenue into future periods as a key theme of the earnings reaction. Seeking Alpha+1
- TipRanks summarizes that NTNX has dipped mainly due to “delays in revenue recognition and strategic shifts,” even as analysts remain positive on long‑term fundamentals. TipRanks
- A “Biggest stock movers” piece on Seeking Alpha today calls out Nutanix specifically, saying shares dropped because revenue guidance was below expectations and revenue has shifted into future periods despite strong demand. Seeking Alpha
The upshot:
Investors are worried that slower recognized revenue growth + lower guidance may signal a more prolonged deceleration, even if ARR and free cash flow look healthy.
Today’s major Nutanix headlines (Nov. 26, 2025)
Here are the key news stories about Nutanix and NTNX stock published today, all of which feed into the market’s reaction:
- Stock plunges after earnings & outlook miss
- Multiple reports, including Seeking Alpha and Benzinga, highlight that NTNX plunged double digits in after‑hours and pre‑market trading after Q1 revenue missed by about $6 million and revenue guidance was cut.
- Analysts cut forecasts and price targets
- Benzinga reports that Nutanix “reported worse‑than‑expected first‑quarter financial results and cut its FY26 sales guidance below estimates”, triggering a round of forecast and price‑target cuts from Wall Street analysts. Benzinga
- KeyBanc slashes target from $95 to $65, stays Overweight
- KeyBanc lowered its price target on NTNX from $95 to $65 but maintained an Overweight rating, citing timing delays and revenue shifting out of the near term.
- Piper Sandler trims target to $72 on “timing issues”
- Piper Sandler cut its target from $88 to $72, also maintaining an Overweight stance and pointing to revenue‑timing dynamics rather than demand destruction.
- Needham lowers target to $65, keeps Buy rating
- Needham reiterated its Buy rating but reduced its price target to $65, reflecting the softer near‑term revenue outlook.
- Morgan Stanley trims target to $82, but sees ~60% upside
- Morgan Stanley maintained an Overweight rating, cutting its target from $90 to $82. GuruFocus notes that the average Street target is about $79.50, with a range of $57–95, implying significant upside from around $49.
- Barclays reiterates Overweight with a $64 target
- A 24/7 Wall St. roundup of top analyst calls lists Nutanix among Wednesday’s highlighted names, noting that Barclays reiterated an Overweight rating with a $64 price target.
- “Shares drop significantly” alert from GuruFocus
- GuruFocus issued a stock alert saying NTNX shares had tumbled about 17.5%, flagging that the stock is now oversold on technical measures (RSI around 28) and trading near one‑year lows on valuation multiples (P/E and P/S).
- “Stock dips amid revenue recognition delays” – TipRanks
- TipRanks points to delayed revenue recognition and conservative guidance as the main drivers of the decline, while emphasizing strong gross margins, a roughly mid‑teens‑billion market cap, and continued analyst optimism.
Together, these stories paint a consistent picture:
Wall Street still largely likes the business, but near‑term growth optics just got uglier, and the stock is being repriced accordingly.
CEO Rajiv Ramaswami’s message: demand, VMware migrations, and AI opportunities
Amid the sell‑off, Nutanix CEO Rajiv Ramaswami is leaning into the long‑term growth story.
In a detailed interview with CRN today, he framed the quarter as a “somewhat disappointing present” but a strengthening future, highlighting: CRN
- VMware dislocation as a growth tailwind
- 640 VMware customers migrated at least some workloads to Nutanix in Q1, on top of about 2,700 migrations in all of fiscal 2025.
- Nutanix continues to compete aggressively with Broadcom’s VMware Cloud Foundation, especially for cloud‑native and AI workloads.
- Channel‑driven scale
- Ramaswami says Nutanix has “an opportunity to scale faster through the channel” as more former VMware partners and service providers align with Nutanix’s platform.
- Expansion beyond HCI into a broader cloud platform
- Nutanix is positioning itself not just as a hyperconverged infrastructure (HCI) vendor, but as a full cloud platform with compute, networking, management, and support for third‑party storage (including Dell and Pure Storage).
- Hybrid multicloud & AI focus
- The roadmap includes deeper integration with major public clouds (AWS, Azure, Google Cloud) and building out enterprise AI inferencing capabilities—helping customers run AI models on‑premises or in hybrid setups without Nutanix needing to build the models itself.
In short, management is arguing that underlying demand, partner momentum, and AI‑driven platform expansion remain intact, even if the revenue recognition path is bumpier than investors expected.
Fundamentals vs. market reaction: how do they line up?
Putting it all together:
The fundamentals look solid on paper
- Double‑digit revenue growth (13%) and ARR growth (18%).
- High GAAP gross margin (~87%) and robust free cash flow.
- A business anchored in mission‑critical infrastructure software for hybrid multicloud and enterprise workloads, with more than 29,000 customers worldwide.
The bear case (today’s trade)
But the market is reacting to several short‑term concerns:
- Revenue deceleration optics:
Even a small miss to expectations matters for a stock that had been priced as a high‑growth cloud name. - Lowered revenue guidance despite strong ARR:
That raises the question of whether Nutanix is entering a structurally slower growth phase, or if this is mostly accounting timing. - Valuation reset:
With NTNX previously trading at rich multiples relative to its growth profile, any sign of slowdown can ignite a sharp re‑rating, which is what we’re seeing today. GuruFocus notes that the P/E and P/S ratios are now near their one‑year lows, suggesting the stock is no longer priced for perfection.
The bull case (analyst and long‑term view)
Despite the downgrades in price targets, most major brokers remain positive:
- KeyBanc, Piper Sandler, Needham, Barclays, Morgan Stanley, and others all maintain Buy/Overweight ratings, even after cutting targets into the mid‑$60s to low‑$80s range.
- The average one‑year price target around $79–80 implies 60%+ upside from approximately $49, according to GuruFocus’ aggregation of 16 analysts.
- TipRanks and other research platforms classify the technical sentiment as short‑term “Sell” but still point to a constructive fundamental story. TipRanks+1
That tension—strong long‑term story, but messy near‑term optics—is exactly what is playing out in NTNX’s price action today.
What to watch next for Nutanix stock
For readers following NTNX closely, here are some near‑term checkpoints to monitor after today’s drop:
- Stabilization around new support levels
- With the stock having broken to a new 52‑week low, watch whether NTNX can build a floor in the high‑$40s/low‑$50s or if selling pressure continues.
- Follow‑through from VMware migrations
- Management’s claim of hundreds of VMware customers migrating each quarter will need to show up not just in ARR, but in sustained revenue and billings momentum over the next few quarters.
- Execution on new partnerships (Dell, Pure, Microsoft Azure Virtual Desktop)
- Expanded support for Dell storage platforms and Azure Virtual Desktop on Nutanix’s platform is a key part of the growth narrative going into FY26 and FY27.
- Any changes in analyst sentiment
- If additional firms cut ratings (not just targets), or if consensus targets drop much further, that would be another sign that the Street is re‑rating Nutanix more structurally. For now, the consensus remains Outperform/Buy.
- Macro and rate‑cut expectations
- As a higher‑multiple tech name, NTNX is sensitive to rate expectations. Today’s broader market tone—helped by hopes for rate cuts—may limit downside, but that can change quickly.
Key takeaways for November 26, 2025
- Nutanix stock is down around 18% today, trading near fresh 52‑week lows on very heavy volume.
- The drop follows Q1 FY26 earnings that delivered in‑line EPS and strong ARR/cash flow, but missed slightly on revenue and came with lower Q2 and FY26 revenue guidance.
- Management attributes the shortfall largely to revenue shifting into future periods, not a collapse in demand, and even raised free‑cash‑flow guidance.
- Analysts have responded by cutting price targets (often sharply) but mostly maintaining Buy/Overweight ratings, leaving the average target well above today’s price.
- CEO Rajiv Ramaswami is emphasizing VMware migration wins, channel expansion, and AI/hybrid cloud innovation as key drivers for long‑term growth beyond this quarter’s revenue‑timing noise.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any security. Always do your own research or consult a licensed financial advisor before making investment decisions.
