In the recent trading session, Nutanix (NTNX) stock closed at $71.45, marking a decrease of 0.57% from the previous day. Despite this decline, Nutanix outperformed the S&P 500, which saw a daily loss of 0.74%. The Dow Jones and Nasdaq also experienced drops of 1.53% and 0.39%, respectively.
Over the past month, Nutanix’s stock has risen by 18.02%, surpassing the gains in the Computer and Technology sector (10.43%) and the S&P 500 (6.06%). Investors are eagerly awaiting Nutanix’s upcoming earnings release scheduled for May 29, 2024. Analysts are expecting the company to report an EPS of $0.17, a 325% increase from the previous year, with revenue projected to reach $516.13 million, up by 15.06%.
For the full year, Zacks Consensus Estimates predict earnings of $1.08 per share and revenue of $2.14 billion, representing increases of 80% and 14.83% compared to the previous year. It is advisable for investors to keep track of any changes in analyst projections for Nutanix, as positive revisions typically indicate optimism about the company’s performance and profitability.
The Zacks Rank system, which ranks stocks from #1 (Strong Buy) to #5 (Strong Sell), has a proven track record of outperformance. Nutanix currently holds a Zacks Rank #1 (Strong Buy), indicating positive prospects for the stock. Additionally, Nutanix has a Forward P/E ratio of 66.81, higher than the industry average of 26.72, and a PEG ratio of 1.65, reflecting projected earnings growth.
The Computers – IT Services industry, to which Nutanix belongs, is part of the Computer and Technology sector and has a Zacks Industry Rank of 150, placing it in the bottom 41% of all industries. It is important for investors to closely monitor these industry metrics and utilize resources such as Zacks.com for updated information on stock performance.
Overall, Nutanix’s recent stock performance, upcoming earnings release, and analyst projections indicate positive momentum for the company. Investors should consider these factors alongside industry trends and valuation metrics to make informed investment decisions.
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https://www.zacks.com/stock/news/2278281/nutanix-ntnx-stock-moves–057-what-you-should-know
