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Nutanix (NTNX) Flat As Market Gains: What You Should Know
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Nutanix (NTNX - Free Report) closed the latest trading day at $67.58, indicating no change from the previous session's end. This change lagged the S&P 500's 0.17% gain on the day. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw a decrease of 0.03%.
Shares of the enterprise cloud platform services provider witnessed a gain of 5.18% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.39% and the S&P 500's gain of 0.17%.
The investment community will be paying close attention to the earnings performance of Nutanix in its upcoming release. The company is slated to reveal its earnings on May 29, 2024. The company is expected to report EPS of $0.17, up 325% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $516.13 million, showing a 15.06% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.10 per share and revenue of $2.14 billion, which would represent changes of +83.33% and +14.83%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Nutanix. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 57.58% higher. Nutanix is currently sporting a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Nutanix is at present trading with a Forward P/E ratio of 61.62. This expresses a premium compared to the average Forward P/E of 25.6 of its industry.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nutanix (NTNX) Flat As Market Gains: What You Should Know
Nutanix (NTNX - Free Report) closed the latest trading day at $67.58, indicating no change from the previous session's end. This change lagged the S&P 500's 0.17% gain on the day. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw a decrease of 0.03%.
Shares of the enterprise cloud platform services provider witnessed a gain of 5.18% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.39% and the S&P 500's gain of 0.17%.
The investment community will be paying close attention to the earnings performance of Nutanix in its upcoming release. The company is slated to reveal its earnings on May 29, 2024. The company is expected to report EPS of $0.17, up 325% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $516.13 million, showing a 15.06% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.10 per share and revenue of $2.14 billion, which would represent changes of +83.33% and +14.83%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Nutanix. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 57.58% higher. Nutanix is currently sporting a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Nutanix is at present trading with a Forward P/E ratio of 61.62. This expresses a premium compared to the average Forward P/E of 25.6 of its industry.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.