In the latest market close, Nutanix (NTNX) reached $53.03, with a +1.95% movement compared to the previous day. This change outpaced the S&P 500’s 0.2% loss on the day. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq decreased by 0.34%.
The the stock of enterprise cloud platform services provider has risen by 5.39% in the past month, leading the Computer and Technology sector’s gain of 0.96% and the S&P 500’s gain of 1.93%.
The investment community will be paying close attention to the earnings performance of Nutanix in its upcoming release. The company is slated to reveal its earnings on August 28, 2024. It is anticipated that the company will report an EPS of $0.19, marking a 20.83% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $537.12 million, indicating an 8.68% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Nutanix. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Nutanix holds a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nutanix has a Forward P/E ratio of 38.61 right now. For comparison, its industry has an average Forward P/E of 28.4, which means Nutanix is trading at a premium to the group.
Investors should also note that NTNX has a PEG ratio of 0.95 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. The Computers – IT Services industry had an average PEG ratio of 3.01 as trading concluded yesterday.
The Computers – IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nutanix (NTNX) : Free Stock Analysis Report
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https://finance.yahoo.com/news/nutanix-ntnx-ascends-while-market-214509040.html