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Nvidia (NVDA) Increases Despite Market Slip: Here's What You Need to Know
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Nvidia (NVDA - Free Report) closed the most recent trading day at $627.74, moving +0.49% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.76%.
The maker of graphics chips for gaming and artificial intelligence's shares have seen an increase of 26.14% over the last month, surpassing the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 3.36%.
Investors will be eagerly watching for the performance of Nvidia in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 21, 2024. On that day, Nvidia is projected to report earnings of $4.49 per share, which would represent year-over-year growth of 410.23%. At the same time, our most recent consensus estimate is projecting a revenue of $20.1 billion, reflecting a 232.16% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $12.30 per share and a revenue of $58.92 billion, demonstrating changes of +268.26% and +118.42%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Nvidia. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.1% higher. Nvidia currently has a Zacks Rank of #2 (Buy).
Investors should also note Nvidia's current valuation metrics, including its Forward P/E ratio of 50.77. For comparison, its industry has an average Forward P/E of 23.84, which means Nvidia is trading at a premium to the group.
It is also worth noting that NVDA currently has a PEG ratio of 3.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Semiconductor - General industry held an average PEG ratio of 2.99.
The Semiconductor - General industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 235, placing it within the bottom 7% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nvidia (NVDA) Increases Despite Market Slip: Here's What You Need to Know
Nvidia (NVDA - Free Report) closed the most recent trading day at $627.74, moving +0.49% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.76%.
The maker of graphics chips for gaming and artificial intelligence's shares have seen an increase of 26.14% over the last month, surpassing the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 3.36%.
Investors will be eagerly watching for the performance of Nvidia in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 21, 2024. On that day, Nvidia is projected to report earnings of $4.49 per share, which would represent year-over-year growth of 410.23%. At the same time, our most recent consensus estimate is projecting a revenue of $20.1 billion, reflecting a 232.16% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $12.30 per share and a revenue of $58.92 billion, demonstrating changes of +268.26% and +118.42%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Nvidia. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.1% higher. Nvidia currently has a Zacks Rank of #2 (Buy).
Investors should also note Nvidia's current valuation metrics, including its Forward P/E ratio of 50.77. For comparison, its industry has an average Forward P/E of 23.84, which means Nvidia is trading at a premium to the group.
It is also worth noting that NVDA currently has a PEG ratio of 3.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Semiconductor - General industry held an average PEG ratio of 2.99.
The Semiconductor - General industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 235, placing it within the bottom 7% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.