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Nutanix (NTNX) Surges 5.8%: Is This an Indication of Further Gains?
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Nutanix (NTNX - Free Report) shares ended the last trading session 5.8% higher at $29.44. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6% loss over the past four weeks.
The upswing in share price was driven by the solid adoption of Nutanix hybrid cloud solutions and an expanding clientele base. The company’s built-in hypervisor has been gaining significant traction as customers continue to select it as a low-cost alternative to other vendor offerings. Its cloud-based deployment strategy is a differentiator. NTNX’s Xi Cloud Services is expected to challenge AWS, Microsoft Azure and Google Cloud in the infrastructure-as-a-service market.
This enterprise cloud platform services provider is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +188.2%. Revenues are expected to be $475.67 million, up 23.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nutanix, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NTNX going forward to see if this recent jump can turn into more strength down the road.
Nutanix belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, TaskUs (TASK - Free Report) , closed the last trading session 7% higher at $13.31. Over the past month, TASK has returned 7.5%.
For TaskUs, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.30. This represents a change of -21.1% from what the company reported a year ago. TaskUs currently has a Zacks Rank of #3 (Hold).
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Nutanix (NTNX) Surges 5.8%: Is This an Indication of Further Gains?
Nutanix (NTNX - Free Report) shares ended the last trading session 5.8% higher at $29.44. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6% loss over the past four weeks.
The upswing in share price was driven by the solid adoption of Nutanix hybrid cloud solutions and an expanding clientele base. The company’s built-in hypervisor has been gaining significant traction as customers continue to select it as a low-cost alternative to other vendor offerings. Its cloud-based deployment strategy is a differentiator. NTNX’s Xi Cloud Services is expected to challenge AWS, Microsoft Azure and Google Cloud in the infrastructure-as-a-service market.
This enterprise cloud platform services provider is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +188.2%. Revenues are expected to be $475.67 million, up 23.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nutanix, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NTNX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nutanix belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, TaskUs (TASK - Free Report) , closed the last trading session 7% higher at $13.31. Over the past month, TASK has returned 7.5%.
For TaskUs, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.30. This represents a change of -21.1% from what the company reported a year ago. TaskUs currently has a Zacks Rank of #3 (Hold).