Here's Why Nutanix (NTNX) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
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?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
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 boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Nutanix has seen some interesting price action recently; the stock is up 8.6% over the past one week and up 7% over the past four weeks. And in the last one-year period, NTNX has gained 38.3%. As for the stock's trading volume, 2,195,147 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for NTNX, while the Zacks Consensus Estimate has increased $0.05 to $0.82 per share. NTNX also boasts an average earnings surprise of 95%.
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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Nutanix (NTNX) : Free Stock Analysis Report
