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Nutanix (NTNX) Gains As Market Dips: What You Should Know
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In the latest trading session, Nutanix (NTNX - Free Report) closed at $70.58, marking a +1.48% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.
The enterprise cloud platform services provider's shares have seen an increase of 1.4% over the last month, surpassing the Computer and Technology sector's loss of 7.7% and the S&P 500's loss of 1.21%.
The investment community will be closely monitoring the performance of Nutanix in its forthcoming earnings report. The company is expected to report EPS of $0.6, up 46.34% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $761.76 million, indicating a 13.6% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.31 per share and a revenue of $3.21 billion, demonstrating changes of +13.24% and +12.44%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Nutanix. 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 no change in the Zacks Consensus EPS estimate. Currently, Nutanix is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Nutanix is presently being traded at a Forward P/E ratio of 30.12. This valuation marks a premium compared to its industry average Forward P/E of 16.03.
Meanwhile, NTNX's PEG ratio is currently 1.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 1.38.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 104, placing it within the top 43% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Nutanix (NTNX) Gains As Market Dips: What You Should Know
In the latest trading session, Nutanix (NTNX - Free Report) closed at $70.58, marking a +1.48% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.
The enterprise cloud platform services provider's shares have seen an increase of 1.4% over the last month, surpassing the Computer and Technology sector's loss of 7.7% and the S&P 500's loss of 1.21%.
The investment community will be closely monitoring the performance of Nutanix in its forthcoming earnings report. The company is expected to report EPS of $0.6, up 46.34% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $761.76 million, indicating a 13.6% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.31 per share and a revenue of $3.21 billion, demonstrating changes of +13.24% and +12.44%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Nutanix. 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 no change in the Zacks Consensus EPS estimate. Currently, Nutanix is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Nutanix is presently being traded at a Forward P/E ratio of 30.12. This valuation marks a premium compared to its industry average Forward P/E of 16.03.
Meanwhile, NTNX's PEG ratio is currently 1.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 1.38.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 104, placing it within the top 43% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.