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Nutanix (NTNX) Outpaces Stock Market Gains: What You Should Know
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Nutanix (NTNX - Free Report) closed the most recent trading day at $43.43, moving +1.95% from the previous trading session. This change outpaced the S&P 500's 0.81% gain on the day. Meanwhile, the Dow gained 0.73%, and the Nasdaq, a tech-heavy index, added 1.03%.
Shares of the enterprise cloud platform services provider witnessed a gain of 10.65% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 17.98%, and outperforming the S&P 500's gain of 9.47%.
Investors will be eagerly watching for the performance of Nutanix in its upcoming earnings disclosure. On that day, Nutanix is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $686 million, up 7.36% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.81 per share and revenue of $2.82 billion. These totals would mark changes of +11.73% and +11.05%, respectively, from last year.
Any recent changes to analyst estimates for Nutanix should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 5.36% fall in the Zacks Consensus EPS estimate. Nutanix presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Nutanix currently has a Forward P/E ratio of 24.18. This indicates a premium in contrast to its industry's Forward P/E of 13.66.
Meanwhile, NTNX's PEG ratio is currently 1.5. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 1.09.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 34% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nutanix (NTNX) Outpaces Stock Market Gains: What You Should Know
Nutanix (NTNX - Free Report) closed the most recent trading day at $43.43, moving +1.95% from the previous trading session. This change outpaced the S&P 500's 0.81% gain on the day. Meanwhile, the Dow gained 0.73%, and the Nasdaq, a tech-heavy index, added 1.03%.
Shares of the enterprise cloud platform services provider witnessed a gain of 10.65% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 17.98%, and outperforming the S&P 500's gain of 9.47%.
Investors will be eagerly watching for the performance of Nutanix in its upcoming earnings disclosure. On that day, Nutanix is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $686 million, up 7.36% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.81 per share and revenue of $2.82 billion. These totals would mark changes of +11.73% and +11.05%, respectively, from last year.
Any recent changes to analyst estimates for Nutanix should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 5.36% fall in the Zacks Consensus EPS estimate. Nutanix presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Nutanix currently has a Forward P/E ratio of 24.18. This indicates a premium in contrast to its industry's Forward P/E of 13.66.
Meanwhile, NTNX's PEG ratio is currently 1.5. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 1.09.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 34% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.