JPMorgan Downgrades Nutanix, Stock Slides 2%

JPMorgan cut Nutanix rating to neutral from overweight, lowering price target to $44 from $55.
The downgrade cites expected choppy macro environment, potential enterprise IT spend pullback, and limited free‑cash‑flow margin expansion through 2027.
Nutanix’s stock fell nearly 2% in pre‑market trading on Friday following the downgrade.
Nutanix announced new OEM deals with NetApp, Dell and expanded Cisco partnership, aiming to boost hybrid multi‑cloud and AI offerings.