Why Nutanix (NTNX) is a Top Momentum Stock for the Long-Term

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock’s price or earnings outlook take precedent, so they’ll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

Nutanix (NTNX)

San Jose, CA-based Nutanix Inc. provides enterprise cloud operating system that combines server, storage, virtualization and networking software into one integrated solution. Nutanix’s solution can be delivered either as an appliance that is configured to order or as software only. The company currently offers two software product families — Acropolis and Prism.

NTNX sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 0.3% and up 8.8% over the past one-week and four-week period, respectively, and Nutanix has gained 72.7% in the last one-year period as well. Additionally, an average of 1,926,469.38 shares were traded over the last 20 trading sessions.

Momentum investors also pay close attention to a company’s earnings. For NTNX, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $1.23 per share for 2024. NTNX boasts an average earnings surprise of 63.5%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding NTNX to their portfolios.

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