Nutanix Q2 revenue beats estimates on strong bookings

Overview

• Hybrid multicloud computing leader's Q2 revenue rose 10%, beating analyst expectations

• Adjusted operating income for Q2 beat analyst estimates

• Company completed $300 mln accelerated share repurchase in Q2

Outlook

• Nutanix expects Q3 revenue between $680 mln and $690 mln

• Company forecasts fiscal 2026 revenue of $2.80 bln to $2.84 bln

• Company anticipates supply chain constraints impacting near-term revenue timing

Result Drivers

• STRONG BOOKINGS - Nutanix reported strong bookings and new logo additions, contributing to its solid Q2 performance

• SUPPLY CHAIN CONSTRAINTS - Supply chain issues led to longer server lead times, impacting near-term revenue and cash flow timing

• AI AND MULTICLOUD OPPORTUNITIES - Growth opportunities in AI and hybrid multicloud are seen as strong foundations for future growth

Company press release: ID:nGNX6LHYGb

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the it services & consulting peer group is "buy"

• Wall Street's median 12-month price target for Nutanix Inc is $65.00, about 71.7% above its February 24 closing price of $37.86

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 36 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.