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Nvidia (NVDA) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Nvidia (NVDA - Free Report) closed at $436.63, marking a +1.6% move from the previous day. This change outpaced the S&P 500's 0.73% gain on the day. On the other hand, the Dow registered a gain of 0.62%, and the technology-centric Nasdaq increased by 0.93%.
The maker of graphics chips for gaming and artificial intelligence's stock has climbed by 1.78% in the past month, exceeding the Computer and Technology sector's loss of 0.22% and the S&P 500's loss of 2.29%.
Analysts and investors alike will be keeping a close eye on the performance of Nvidia in its upcoming earnings disclosure. The company's earnings report is set to go public on November 21, 2023. The company's earnings per share (EPS) are projected to be $3.34, reflecting a 475.86% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.12 billion, indicating a 171.72% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.74 per share and a revenue of $54.4 billion, signifying shifts of +221.56% and +101.69%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nvidia. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.81% higher. As of now, Nvidia holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nvidia is holding a Forward P/E ratio of 40.01. This signifies a premium in comparison to the average Forward P/E of 18.19 for its industry.
We can also see that NVDA currently has a PEG ratio of 2.96. 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. The Semiconductor - General was holding an average PEG ratio of 2.55 at yesterday's closing price.
The Semiconductor - General industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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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Nvidia (NVDA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Nvidia (NVDA - Free Report) closed at $436.63, marking a +1.6% move from the previous day. This change outpaced the S&P 500's 0.73% gain on the day. On the other hand, the Dow registered a gain of 0.62%, and the technology-centric Nasdaq increased by 0.93%.
The maker of graphics chips for gaming and artificial intelligence's stock has climbed by 1.78% in the past month, exceeding the Computer and Technology sector's loss of 0.22% and the S&P 500's loss of 2.29%.
Analysts and investors alike will be keeping a close eye on the performance of Nvidia in its upcoming earnings disclosure. The company's earnings report is set to go public on November 21, 2023. The company's earnings per share (EPS) are projected to be $3.34, reflecting a 475.86% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $16.12 billion, indicating a 171.72% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.74 per share and a revenue of $54.4 billion, signifying shifts of +221.56% and +101.69%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nvidia. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.81% higher. As of now, Nvidia holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Nvidia is holding a Forward P/E ratio of 40.01. This signifies a premium in comparison to the average Forward P/E of 18.19 for its industry.
We can also see that NVDA currently has a PEG ratio of 2.96. 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. The Semiconductor - General was holding an average PEG ratio of 2.55 at yesterday's closing price.
The Semiconductor - General industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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.