Goldman Sachs Reaffirms Buy on Nutanix with $60 Target After 47% Slump
Nutanix shares have plunged about 22% year-to-date and roughly 47% over the past six months, the steepest decline among its software peers. Goldman Sachs reaffirmed a Buy rating with a $60 12-month target, citing Nutanix’s strategic hybrid multi-cloud positioning as AI infrastructure demand rises.
1. Performance Decline
Nutanix shares have dropped approximately 22% year-to-date and nearly 47% over the past six months, marking the steepest decline among its software coverage as investors recalibrate memory pricing concerns and broader sector de-rating.
2. Goldman Sachs Buy Rating
Goldman Sachs reaffirmed a Buy rating on Nutanix, emphasizing that the recent selloff reflects sentiment shifts rather than deteriorating fundamentals and presents an attractive entry point.
3. $60 Price Target
The firm set a $60 12-month price target, reflecting expectations for improved revenue growth and margin expansion as Nutanix leverages its consumption-based model and cost discipline.
4. Hybrid Multi-Cloud Strategy
Analysts highlight Nutanix’s hybrid multi-cloud infrastructure positioning as strategic, expecting increased demand for integrated environments to support complex AI workloads and drive long-term growth.