In the most recent trading session, Nutanix (NTNX) closed at $68.97, a decrease of 0.06% from the previous day. This change was larger than the S&P 500’s daily loss of 0.21%. The Dow Jones and Nasdaq also saw drops of 0.1% and 0.26%, respectively.
Over the past month, Nutanix’s stock had increased by 13.67%, outperforming the Computer and Technology sector’s gain of 6.51% and the S&P 500’s gain of 5.04%. Investors and analysts are watching closely for Nutanix’s upcoming earnings release scheduled for May 29, 2024. The company is expected to report earnings per share (EPS) of $0.17, a 325% increase from the previous year, with revenue projected at $516.13 Million, a 15.06% increase year-over-year.
For the full fiscal year, Zacks Consensus Estimates predict earnings of $1.10 per share and revenue of $2.14 billion, representing increases of 83.33% and 14.83%, respectively, compared to the previous year. Recent revisions to analyst estimates for Nutanix are seen as reflecting short-term business trends, with positive revisions seen as a sign of optimism about the company’s prospects.
Nutanix currently holds a Zacks Rank #1 (Strong Buy) based on positive estimate revisions. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has a track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Additionally, the Zacks Consensus EPS Estimate for Nutanix has increased by 57.58% within the past 30 days.
As for valuation, Nutanix has a Forward P/E ratio of 62.93, indicating a premium compared to the industry average of 28.62. Nutanix operates in the Computers – IT Services industry within the Computer and Technology sector, which has a Zacks Industry Rank of 167, placing it in the bottom 34% of all industries. The Zacks Industry Rank indicates the strength of industry groups, with research showing that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
For more information on these metrics and more, visit Zacks.com. You can also download the 7 best stocks for the next 30 days from Zacks Investment Research.
Overall, Nutanix’s stock performance, earnings potential, and analyst estimates indicate a positive outlook for the company in the future.
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