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Nutanix's Guidance Achievable After Solid Q3, RBC Says

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Nutanix (NTNX) delivered solid Q3 results with outperformance across the board as fiscal 2026 guidance moved higher, RBC Capital Markets said in a Wednesday note.

The note said annual recurring revenue accelerated in Q3 and bookings grew over 20% along with good traction across their product portfolio and partnerships.

Even as the macros remained challenged on continued supply chain constraints, the company noted that customers have gotten better at navigating the challenges, the report added.

"We feel guidance remains achievable with opportunities for upside as company-specific growth drivers materialize over time," the report said.

RBC raised its price target to $58 from $55 on higher estimates and reaffirmed its outperform rating.

Price: $49.35, Change: $+2.78, Percent Change: +5.97%

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