In the latest trading session, Nutanix (NTNX) closed at $63.05, marking a +0.7% move from the previous day. This move outpaced the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq lost 0.23%.

Prior to today's trading, shares of the enterprise cloud platform services provider had lost 5.55% over the past month. This has lagged the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Nutanix in its upcoming earnings disclosure. On that day, Nutanix is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 2.17%. In the meantime, our current consensus estimate forecasts the revenue to be $641.84 million, indicating a 13.55% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.49 per share and a revenue of $2.46 billion, representing changes of +13.74% and +14.5%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nutanix. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 1.37% rise in the Zacks Consensus EPS estimate. Nutanix is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Nutanix's current valuation metrics, including its Forward P/E ratio of 42.15. This denotes a premium relative to the industry's average Forward P/E of 27.52.

Investors should also note that NTNX has a PEG ratio of 2.13 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computers - IT Services industry had an average PEG ratio of 2.48 as trading concluded yesterday.

The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 28% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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