In the recent trading session, Nutanix (NTNX) closed at $71.45, marking a slight decrease of -0.57% from the previous day’s close. Despite this, the stock outperformed the S&P 500’s daily loss of 0.74%. Meanwhile, the Dow Jones and Nasdaq experienced drops of 1.53% and 0.39%, respectively.
Over the past month, shares of Nutanix have risen by 18.02%, surpassing the gains of the Computer and Technology sector (10.43%) and the S&P 500 (6.06%). Investors are eagerly awaiting the company’s upcoming earnings release on May 29, 2024, where Nutanix is expected to report an EPS of $0.17, representing a 325% increase from the previous year. Revenue is also projected to increase by 15.06% to $516.13 million.
For the full year, Zacks Consensus Estimates predict earnings of $1.08 per share and revenue of $2.14 billion, reflecting growth rates of +80% and +14.83% compared to the previous year. It is crucial for investors to monitor any changes in analyst projections for Nutanix, as these revisions often reflect short-term business trends and can impact stock price momentum.
Nutanix currently holds a Zacks Rank #1 (Strong Buy), supported by positive estimate revisions that demonstrate analyst optimism about the company’s future performance. The Forward P/E ratio for Nutanix is 66.81, higher than the industry average of 26.72, indicating a premium valuation. The PEG ratio, which accounts for projected earnings growth, stands at 1.65, lower than the sector average of 2.96.
The Computers – IT Services industry to which Nutanix belongs is part of the Computer and Technology sector and holds a Zacks Industry Rank of 150, placing it in the bottom 41% of all industries. Industry Rank is determined by the average Zacks Rank of individual stocks within the group, with top-ranked industries typically outperforming the bottom half.
Investors are encouraged to utilize Zacks.com to stay updated on stock-influencing metrics and industry trends in the upcoming trading sessions. To receive the latest recommendations from Zacks Investment Research, readers can download the 7 best stocks for the next 30 days by following the link provided in the content.
Article Source
https://finance.yahoo.com/news/nutanix-ntnx-stock-moves-0-215004491.html
