Yahoo Finance Nutanix (NTNX) Stock Moves -0.06%: What You Should Know
The most recent trading session ended with Nutanix (NTNX) standing at $68.97, reflecting a -0.06% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw a decrease of 0.26%.
Coming into today, shares of the enterprise cloud platform services provider had gained 13.67% in the past month. In that same time, the Computer and Technology sector gained 6.51%, while the S&P 500 gained 5.04%.
Analysts and investors alike will be keeping a close eye on the performance of Nutanix in its upcoming earnings disclosure. The company's earnings report is set to go public on May 29, 2024. The company's earnings per share (EPS) are projected to be $0.17, reflecting a 325% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $516.13 million, indicating a 15.06% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.10 per share and a revenue of $2.14 billion, indicating changes of +83.33% and +14.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Nutanix. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 57.58% higher. At present, Nutanix boasts a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nutanix is holding a Forward P/E ratio of 62.93. This expresses a premium compared to the average Forward P/E of 28.62 of its industry.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nutanix (NTNX) : Free Stock Analysis Report
