Nutanix (NTNX) closed at $72.85 in the latest trading session, marking a 1.96% increase from the previous day. This increase was higher than the S&P 500’s daily gain of 0.7%, while the Dow Jones saw a 0.01% gain and the Nasdaq saw a 1.1% gain.
Over the past month, Nutanix’s stock has gained 17.34%, outpacing the Computer & Technology sector’s gain of 8.26% and the S&P 500’s gain of 4.03% during the same period. Investors are eagerly awaiting Nutanix’s upcoming earnings announcement, scheduled for May 29, 2024. Analysts expect the company to report earnings per share (EPS) of $0.17, reflecting a 325% increase from the previous year, and revenue of $516.13 million, a 15.06% increase from the prior year.
For the full fiscal year, Zacks Consensus Estimates are projecting earnings of $1.08 per share and revenue of $2.14 billion, representing increases of 80% and 14.83%, respectively, from the previous year. Nutanix holds a Zacks Rank #1 (Strong Buy), indicating positive analyst sentiment.
The company’s current Forward P/E ratio of 66.43 is higher than the industry average of 26.61, suggesting a premium valuation. Nutanix’s PEG ratio of 1.64 takes into account the company’s expected earnings growth rate, with the Computer – IT Services sector having an average PEG ratio of 2.93.
The Computers – IT Services industry, to which Nutanix belongs, is currently ranked 147 out of 250+ industries by Zacks Industry Rank, placing it in the bottom 42%. However, research shows that industries with higher Zacks Industry Ranks outperform those with lower ranks at a ratio of 2 to 1.
Investors are encouraged to stay updated on stock-changing metrics by using Zacks.com. They can also access Zacks’ free report on the 7 best stocks for the next 30 days for more investment insights. To further delve into Nutanix’s performance, investors can access a free stock analysis report and read an article on Zacks.com for additional information.
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