Surging Earnings Estimates Signal Good News for Nutanix (NTNX)
Nutanix, Inc. NTNX provides an enterprise cloud platform, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NTNX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Nutanix could be a solid choice for investors.
Current Quarter Estimates for NTNX
In the past 30 days, eight estimates have gone higher for Nutanix while two have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 20 cents today, a move of 13%.
Current Year Estimates for NTNX
Meanwhile, Nutanix’s current year figures are also looking quite promising, with nine estimates moving higher in the past month, compared to two lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 75 cents per share 30 days ago to a loss of 60 cents per share today, an increase of 14.7%.
Nutanix Inc. Price and Consensus
Nutanix Inc. Price and Consensus | Nutanix Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 54.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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