The latest trading session saw Nutanix (NTNX) ending at $51.26, denoting a +0.85% adjustment from its last day’s close. This move outpaced the S&P 500’s daily gain of 0.38%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the enterprise cloud platform services provider had gained 0.89% in the past month. In that same time, the Computer and Technology sector lost 7.5%, while the S&P 500 lost 3.2%.
The upcoming earnings release of Nutanix will be of great interest to investors. The company’s earnings report is expected on August 28, 2024. The company is predicted to post an EPS of $0.19, indicating a 20.83% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $537.12 million, up 8.68% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nutanix. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Nutanix is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nutanix currently has a Forward P/E ratio of 37.74. This indicates a premium in contrast to its industry’s Forward P/E of 27.79.
It is also worth noting that NTNX currently has a PEG ratio of 0.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Computers – IT Services industry had an average PEG ratio of 2.92 as trading concluded yesterday.
The Computers – IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Nutanix (NTNX) : Free Stock Analysis Report
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