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Why Nutanix (NTNX) Could Be Positioned for a Surge

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Nutanix Inc. NTNX provides an enterprise cloud platform that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NTNX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Nutanix could be a solid choice for investors.

Current Quarter Estimates for NTNX

In the past 30 days, seven estimates have gone higher for Nutanix while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 25 cents a share 30 days ago, to a loss of 21 cents today, a move of 16%.

Current Year Estimates for NTNX

Meanwhile, Nutanix’s current year figures are also looking quite promising, with eight estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 96 cents per share 30 days ago to a loss of 76 cents per share today, a move of 20.8%.

Nutanix Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 22.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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