Nutanix (NTNX) closed at $72.85, recording a 1.96% increase from the day prior, surpassing the S&P 500’s 0.7% gain. During the same trading session, the Dow Jones saw a 0.01% increase, while the Nasdaq, dominated by technology stocks, experienced a 1.1% rise.
Over the past month, Nutanix’s stock has gained 17.34%, outperforming the Computer and Technology sector’s 8.26% increase and the S&P 500’s 4.03% gain during that period. As investors anticipate the upcoming earnings release scheduled for May 29, 2024, analysts are expecting Nutanix to report an EPS of $0.17, a 325% increase from the previous year. Revenue is also projected to rise by 15.06% to $516.13 million compared to the prior-year quarter.
For the full fiscal year, Zacks Consensus Estimates predict earnings of $1.08 per share and revenue of $2.14 billion, representing an 80% and 14.83% increase, respectively, from the previous year. Analysts continue to monitor any changes to projections for Nutanix, which can impact short-term trading dynamics and reflect the company’s business outlook.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), indicates Nutanix as a #1 (Strong Buy) stock. This model utilizes estimate changes to provide a rating system with a track record of outperformance since 1988. Nutanix is currently trading at a Forward P/E ratio of 66.43, indicating a premium compared to the industry average of 26.61. The stock also has a PEG ratio of 1.64, considering anticipated earnings growth rates, while the industry average PEG ratio stands at 2.93.
Nutanix operates within the Computers – IT Services industry, which is part of the Computer and Technology sector. The industry’s Zacks Industry Rank of 147 places it in the bottom 42% of all industries. Investors are encouraged to stay informed about these industry metrics using resources like Zacks.com to navigate trading decisions effectively.
Zacks Investment Research offers insights and recommendations based on thorough analysis and market trends, aiding investors in making informed decisions. By accessing the free report from Zacks Investment Research, investors can stay updated on the best stock picks for the next 30 days. For more in-depth analysis and information on Nutanix (NTNX), readers can visit Zacks.com.
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