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Nutanix (NTNX) Falls More Steeply Than Broader Market: What Investors Need to Know
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Nutanix (NTNX - Free Report) ended the recent trading session at $58.75, demonstrating a -1.31% swing from the preceding day's closing price. This change lagged the S&P 500's 0.88% loss on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
Prior to today's trading, shares of the enterprise cloud platform services provider had lost 4.72% over the past month. This has lagged the Computer and Technology sector's loss of 3.33% and the S&P 500's loss of 2.57% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nutanix in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.17, signifying a 325% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $516.13 million, indicating a 15.06% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.08 per share and a revenue of $2.14 billion, indicating changes of +80% and +14.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Nutanix. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 38.56% higher. Nutanix is currently a Zacks Rank #3 (Hold).
Looking at valuation, Nutanix is presently trading at a Forward P/E ratio of 55.35. This indicates a premium in contrast to its industry's Forward P/E of 23.43.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nutanix (NTNX) Falls More Steeply Than Broader Market: What Investors Need to Know
Nutanix (NTNX - Free Report) ended the recent trading session at $58.75, demonstrating a -1.31% swing from the preceding day's closing price. This change lagged the S&P 500's 0.88% loss on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
Prior to today's trading, shares of the enterprise cloud platform services provider had lost 4.72% over the past month. This has lagged the Computer and Technology sector's loss of 3.33% and the S&P 500's loss of 2.57% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nutanix in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.17, signifying a 325% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $516.13 million, indicating a 15.06% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.08 per share and a revenue of $2.14 billion, indicating changes of +80% and +14.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Nutanix. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 38.56% higher. Nutanix is currently a Zacks Rank #3 (Hold).
Looking at valuation, Nutanix is presently trading at a Forward P/E ratio of 55.35. This indicates a premium in contrast to its industry's Forward P/E of 23.43.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.