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Nutanix (NTNX) Stock Moves 1.46%: What You Should Know
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Nutanix (NTNX - Free Report) ended the recent trading session at $69.44, demonstrating a +1.46% swing from the preceding day's closing price. Elsewhere, the Dow saw an upswing of 0.32%, while the tech-heavy Nasdaq depreciated by 0.11%.
Coming into today, shares of the enterprise cloud platform services provider had gained 11.47% in the past month. In that same time, the Computer and Technology sector gained 1.32%, while the S&P 500 gained 0.97%.
The upcoming earnings release of Nutanix will be of great interest to investors. The company's earnings report is expected on November 26, 2024. The company's upcoming EPS is projected at $0.31, signifying a 6.9% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $571.72 million, indicating a 11.87% upward movement from the same quarter last year.
NTNX's full-year Zacks Consensus Estimates are calling for earnings of $1.41 per share and revenue of $2.46 billion. These results would represent year-over-year changes of +7.63% and +14.27%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nutanix. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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 witnessed a 0.17% increase. At present, Nutanix boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Nutanix currently has a Forward P/E ratio of 48.71. This expresses a premium compared to the average Forward P/E of 27.71 of its industry.
It is also worth noting that NTNX currently has a PEG ratio of 2.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Computers - IT Services industry had an average PEG ratio of 2.81.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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) Stock Moves 1.46%: What You Should Know
Nutanix (NTNX - Free Report) ended the recent trading session at $69.44, demonstrating a +1.46% swing from the preceding day's closing price. Elsewhere, the Dow saw an upswing of 0.32%, while the tech-heavy Nasdaq depreciated by 0.11%.
Coming into today, shares of the enterprise cloud platform services provider had gained 11.47% in the past month. In that same time, the Computer and Technology sector gained 1.32%, while the S&P 500 gained 0.97%.
The upcoming earnings release of Nutanix will be of great interest to investors. The company's earnings report is expected on November 26, 2024. The company's upcoming EPS is projected at $0.31, signifying a 6.9% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $571.72 million, indicating a 11.87% upward movement from the same quarter last year.
NTNX's full-year Zacks Consensus Estimates are calling for earnings of $1.41 per share and revenue of $2.46 billion. These results would represent year-over-year changes of +7.63% and +14.27%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nutanix. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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 witnessed a 0.17% increase. At present, Nutanix boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Nutanix currently has a Forward P/E ratio of 48.71. This expresses a premium compared to the average Forward P/E of 27.71 of its industry.
It is also worth noting that NTNX currently has a PEG ratio of 2.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Computers - IT Services industry had an average PEG ratio of 2.81.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.