Nutanix (NTNX) closed at $65.44 in the latest trading session, marking a +0.46% move from the prior day. This move lagged the S&P 500's daily gain of 0.88%. Elsewhere, the Dow saw an upswing of 1.24%, while the tech-heavy Nasdaq appreciated by 0.65%.

The enterprise cloud platform services provider's stock has climbed by 0.88% in the past month, exceeding the Computer and Technology sector's gain of 0.37% and lagging the S&P 500's gain of 1.17%.

The investment community will be closely monitoring the performance of Nutanix in its forthcoming earnings report. On that day, Nutanix is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 2.17%. Our most recent consensus estimate is calling for quarterly revenue of $641.84 million, up 13.55% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.49 per share and revenue of $2.46 billion, indicating changes of +13.74% and +14.5%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for Nutanix. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Nutanix holds a Zacks Rank of #3 (Hold).

Investors should also note Nutanix's current valuation metrics, including its Forward P/E ratio of 43.85. This expresses a premium compared to the average Forward P/E of 27.79 of its industry.

Also, we should mention that NTNX has a PEG ratio of 2.21. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computers - IT Services industry had an average PEG ratio of 2.6 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 56, which puts it in the top 23% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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