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Nutanix (NTNX) Outperforms Broader Market: What You Need to Know
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Nutanix (NTNX - Free Report) closed the most recent trading day at $74.62, moving +2.07% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.6%. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 0.64%.
Coming into today, shares of the enterprise cloud platform services provider had gained 11.76% in the past month. In that same time, the Computer and Technology sector gained 4.03%, while the S&P 500 gained 1.34%.
The investment community will be paying close attention to the earnings performance of Nutanix in its upcoming release. The company's earnings per share (EPS) are projected to be $0.6, reflecting a 46.34% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $761.76 million, up 13.6% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.31 per share and a revenue of $3.21 billion, signifying shifts of +13.24% and +12.44%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Nutanix. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.3% rise in the Zacks Consensus EPS estimate. Right now, Nutanix possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Nutanix is at present trading with a Forward P/E ratio of 31.67. Its industry sports an average Forward P/E of 13.26, so one might conclude that Nutanix is trading at a premium comparatively.
We can also see that NTNX currently has a PEG ratio of 1.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computers - IT Services industry currently had an average PEG ratio of 1.32 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NTNX in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Nutanix (NTNX) Outperforms Broader Market: What You Need to Know
Nutanix (NTNX - Free Report) closed the most recent trading day at $74.62, moving +2.07% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.6%. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 0.64%.
Coming into today, shares of the enterprise cloud platform services provider had gained 11.76% in the past month. In that same time, the Computer and Technology sector gained 4.03%, while the S&P 500 gained 1.34%.
The investment community will be paying close attention to the earnings performance of Nutanix in its upcoming release. The company's earnings per share (EPS) are projected to be $0.6, reflecting a 46.34% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $761.76 million, up 13.6% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.31 per share and a revenue of $3.21 billion, signifying shifts of +13.24% and +12.44%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Nutanix. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.3% rise in the Zacks Consensus EPS estimate. Right now, Nutanix possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Nutanix is at present trading with a Forward P/E ratio of 31.67. Its industry sports an average Forward P/E of 13.26, so one might conclude that Nutanix is trading at a premium comparatively.
We can also see that NTNX currently has a PEG ratio of 1.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computers - IT Services industry currently had an average PEG ratio of 1.32 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NTNX in the coming trading sessions, be sure to utilize Zacks.com.