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Nutanix (NTNX) Outperforms Broader Market: What You Need to Know
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Nutanix (NTNX - Free Report) ended the recent trading session at $43.37, demonstrating a +1.31% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.5%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.43%.
Heading into today, shares of the enterprise cloud platform services provider had lost 18.98% over the past month, lagging the Computer and Technology sector's loss of 0.15% and the S&P 500's gain of 0.18%.
Market participants will be closely following the financial results of Nutanix in its upcoming release. The company's earnings per share (EPS) are projected to be $0.44, reflecting a 21.43% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $709.67 million, up 8.39% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.78 per share and a revenue of $2.84 billion, signifying shifts of +9.88% and +11.94%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Nutanix. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.35% lower within the past month. At present, Nutanix boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Nutanix is holding a Forward P/E ratio of 24. This indicates a premium in contrast to its industry's Forward P/E of 17.21.
We can additionally observe that NTNX currently boasts a PEG ratio of 1.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NTNX's industry had an average PEG ratio of 1.42 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Nutanix (NTNX) Outperforms Broader Market: What You Need to Know
Nutanix (NTNX - Free Report) ended the recent trading session at $43.37, demonstrating a +1.31% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.5%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.43%.
Heading into today, shares of the enterprise cloud platform services provider had lost 18.98% over the past month, lagging the Computer and Technology sector's loss of 0.15% and the S&P 500's gain of 0.18%.
Market participants will be closely following the financial results of Nutanix in its upcoming release. The company's earnings per share (EPS) are projected to be $0.44, reflecting a 21.43% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $709.67 million, up 8.39% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.78 per share and a revenue of $2.84 billion, signifying shifts of +9.88% and +11.94%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Nutanix. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.35% lower within the past month. At present, Nutanix boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Nutanix is holding a Forward P/E ratio of 24. This indicates a premium in contrast to its industry's Forward P/E of 17.21.
We can additionally observe that NTNX currently boasts a PEG ratio of 1.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NTNX's industry had an average PEG ratio of 1.42 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.