Why Nutanix Stock Is Rising Over 3% In Today’s Premarket

San Jose, California-based enterprise cloud platform provider Nutanix, Inc.’s (NTNX) shares rose over 3% in Monday’s early premarket session.

S&P Dow Jones Indices announced late Friday that Nutanix will join the S&P MidCap 400 Index, effective before the market open on September 22. The company will replace Acadia Healthcare Company (ACHC) in the index.

The move comes as part of the index compiler’s quarterly rebalancing. 

The S&P MidCap 400 Index is a measure of the performance of mid-cap equities listed on the U.S. exchanges, and the market capitalization criteria for inclusion in the index are $8 billion to $22.7 billion.

Nutanix had a market cap of $18.744 billion (based on Friday’s closing price of $68.67).

Index inclusion generates positive sentiment toward the stock, as investors view it as a validation of the company’s credentials as a stable and growing entity. Also, funds tracking a particular index would load up on the stock to align their portfolio weighting with that of the index.

On Stocktwits, retail sentiment toward Nutanix stock, however, remained stuck in ‘bearish’ territory (41/100) as of early Monday. The message volume on the stream was also at ‘low’ levels.

The stock received a slew of price target cuts from Wall Street analysts following the company’s fourth-quarter results, reported in late August, according to The Fly. The pessimistic analysts’ action was due to the company’s cautious commentary regarding its fiscal year 2026 annual recurring revenue (ARR) and doubts regarding large deal momentum.

Nutanix stock is up more than 14% this year. The Koyfin-compiled consensus analysts’ price target for the stock is $87.03, implying an upside potential of nearly 25% from Friday’s close.

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