Nutanix (NTNX) closed at $72.85 in the latest trading session, showing a 1.96% increase from the previous day. The stock outperformed the S&P 500’s daily gain of 0.7%, with the Nasdaq gaining 1.1% and the Dow Jones seeing a 0.01% gain in the same period.
Over the past month, Nutanix shares have risen by 17.34%, surpassing the Computer and Technology sector’s gain of 8.26% and the S&P 500’s gain of 4.03%. The company is set to release its earnings on May 29, 2024, with expectations of an EPS of $0.17 and revenue of $516.13 million, representing significant growth from the prior-year quarter.
Analyst estimates project full fiscal year earnings of $1.08 per share and revenue of $2.14 billion, showing substantial increases from the previous year. Nutanix currently holds a Zacks Rank #1 (Strong Buy), indicating positive analyst sentiment.
The stock is trading with a Forward P/E ratio of 66.43, higher than the industry average of 26.61, and a PEG ratio of 1.64. The Computers – IT Services industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 147, positioning it in the lower 42% of all industries.
Investors are advised to stay informed about Nutanix and other stock metrics by utilizing Zacks.com. Analyst estimates and industry rankings play a crucial role in determining stock performance and potential investment opportunities.
Overall, Nutanix’s recent performance and analyst projections indicate a positive outlook for the company, with strong growth potential in the enterprise cloud platform services sector. Traders and investors should keep a close watch on the upcoming earnings release and market trends to make informed investment decisions.
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