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Nutanix (NTNX) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Nutanix (NTNX - Free Report) closed at $72.85, marking a +1.96% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.7%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.1%.
Heading into today, shares of the enterprise cloud platform services provider had gained 17.34% over the past month, outpacing the Computer and Technology sector's gain of 8.26% and the S&P 500's gain of 4.03% in that time.
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 entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.08 per share and a revenue of $2.14 billion, representing changes of +80% and +14.83%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Nutanix. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Nutanix possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Nutanix is at present trading with a Forward P/E ratio of 66.43. This denotes a premium relative to the industry's average Forward P/E of 26.61.
It's also important to note that NTNX currently trades at a PEG ratio of 1.64. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computers - IT Services was holding an average PEG ratio of 2.93 at yesterday's closing price.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Nutanix (NTNX - Free Report) closed at $72.85, marking a +1.96% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.7%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.1%.
Heading into today, shares of the enterprise cloud platform services provider had gained 17.34% over the past month, outpacing the Computer and Technology sector's gain of 8.26% and the S&P 500's gain of 4.03% in that time.
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 entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.08 per share and a revenue of $2.14 billion, representing changes of +80% and +14.83%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Nutanix. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Nutanix possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Nutanix is at present trading with a Forward P/E ratio of 66.43. This denotes a premium relative to the industry's average Forward P/E of 26.61.
It's also important to note that NTNX currently trades at a PEG ratio of 1.64. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computers - IT Services was holding an average PEG ratio of 2.93 at yesterday's closing price.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.