Nutanix (NTNX) closed at $67.58, showing no change from the previous session, while the S&P 500 gained 0.17%. The Dow Jones increased by 0.32%, but the Nasdaq dropped by 0.03%.
Shares of Nutanix increased by 5.18% in the past month, surpassing the Computer and Technology sector’s 0.39% gain and the S&P 500’s 0.17% gain.
Investors are eagerly awaiting Nutanix’s earnings report on May 29, 2024. The company is expected to post an EPS of $0.17, marking a 325% increase from the previous year. Revenue is projected to be $516.13 million, up 15.06% from the previous year.
For the full 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 from the previous year.
Recent analyst estimate revisions for Nutanix can provide insight into the company’s near-term trading trends. Positive revisions are typically seen as an optimistic sign for the company’s future prospects.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has a track record of outperforming the market. Nutanix currently holds a Zacks Rank of #1 (Strong Buy), with an EPS estimate increase of 57.58% for the current month.
Nutanix currently has a Forward P/E ratio of 61.62, which is higher than the industry average of 25.6. The Computers – IT Services industry, part of the Computer and Technology sector, is ranked #143 on the Zacks Industry Rank.
The Zacks Industry Rank assesses industry strength by calculating the average Zacks Rank of individual stocks within the industry. Industries in the top 50% outperform those in the bottom half by a ratio of 2 to 1.
To track stock-moving metrics and receive recommendations from Zacks Investment Research, investors can use Zacks.com and download the 7 best stocks for the next 30 days.
In conclusion, Nutanix shows promising growth potential with positive earnings estimates and industry rankings. Investors can leverage the Zacks Rank system to make informed investment decisions based on analyst estimates and performance metrics.
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