Yahoo Finance Nutanix (NTNX) Flat As Market Sinks: What You Should Know
The most recent trading session ended with Nutanix (NTNX) standing at $60.89, reflecting no shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.46%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Heading into today, shares of the enterprise cloud platform services provider had lost 1.68% over the past month, outpacing the Computer and Technology sector's loss of 5.01% and the S&P 500's loss of 3.04% in that time.
The investment community will be paying close attention to the earnings performance of Nutanix in its upcoming release. On that day, Nutanix is projected to report earnings of $0.17 per share, which would represent year-over-year growth of 325%. At the same time, our most recent consensus estimate is projecting a revenue of $516.13 million, reflecting a 15.06% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.08 per share and revenue of $2.14 billion, indicating changes of +80% and +14.83%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nutanix. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.5% higher. Currently, Nutanix is carrying a Zacks Rank of #3 (Hold).
Investors should also note Nutanix's current valuation metrics, including its Forward P/E ratio of 56.61. For comparison, its industry has an average Forward P/E of 24.7, which means Nutanix is trading at a premium to the group.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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
