Nutanix (NTNX) closed at $72.85 in the latest trading session, showing a 1.96% increase from the previous day. This movement was higher than the S&P 500’s 0.7% gain, while the Dow Jones saw a 0.01% increase and the Nasdaq had a 1.1% uptick. Over the past month, Nutanix shares have surged by 17.34%, outperforming the Computer & Technology sector’s 8.26% gain and the S&P 500’s 4.03% rise during the same period.
Investors are eagerly awaiting Nutanix’s upcoming earnings release scheduled for May 29, 2024. Analysts predict the company will report earnings per share (EPS) of $0.17, a significant 325% jump from the previous year. Revenue is also expected to increase by 15.06% to $516.13 million compared to the prior-year quarter. Looking ahead for the full fiscal year, Zacks Consensus Estimates anticipate earnings of $1.08 per share and revenue of $2.14 billion, reflecting growth rates of 80% and 14.83%, respectively.
It is crucial for investors to monitor any recent modifications to analyst estimates for Nutanix, as they can indicate shifts in short-term trading patterns. Positive estimate revisions are generally seen as favorable indicators for the company’s future prospects. Nutanix currently holds a Zacks Rank #1 (Strong Buy), and the Zacks Rank system has consistently outperformed since 1988, with #1 ranked stocks delivering an average annual return of +25%.
In terms of valuation, Nutanix is trading at a Forward P/E ratio of 66.43, which is higher than the industry average of 26.61. The company also has a PEG ratio of 1.64, compared to the sector’s average PEG ratio of 2.93. The Computers – IT Services industry, to which Nutanix belongs, is ranked 147 out of 250+ industries within the Computer and Technology sector.
Investors can leverage Zacks.com to stay informed about these key metrics and other relevant information affecting Nutanix’s stock performance in the future. For further insights, readers can access the latest recommendations from Zacks Investment Research by downloading the 7 best stocks for the next 30 days through the provided link. Additionally, a free stock analysis report for Nutanix (NTNX) is available on Zacks.com for more detailed information.
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