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Nvidia (NVDA) Stock Falls Amid Market Uptick: What Investors Need to Know
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The most recent trading session ended with Nvidia (NVDA - Free Report) standing at $889.64, reflecting a -0.55% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.11%. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.23%.
Shares of the maker of graphics chips for gaming and artificial intelligence witnessed a gain of 4.06% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.54% and the S&P 500's gain of 1.5%.
The investment community will be paying close attention to the earnings performance of Nvidia in its upcoming release. The company is forecasted to report an EPS of $5.48, showcasing a 402.75% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $24.17 billion, indicating a 236.08% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $23.84 per share and a revenue of $105.13 billion, representing changes of +83.95% and +72.56%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nvidia. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 3.09% higher within the past month. Right now, Nvidia possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note Nvidia's current valuation metrics, including its Forward P/E ratio of 37.52. This denotes a premium relative to the industry's average Forward P/E of 27.08.
We can additionally observe that NVDA currently boasts a PEG ratio of 1.21. 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 2.49.
The Semiconductor - General industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nvidia (NVDA) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with Nvidia (NVDA - Free Report) standing at $889.64, reflecting a -0.55% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.11%. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.23%.
Shares of the maker of graphics chips for gaming and artificial intelligence witnessed a gain of 4.06% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.54% and the S&P 500's gain of 1.5%.
The investment community will be paying close attention to the earnings performance of Nvidia in its upcoming release. The company is forecasted to report an EPS of $5.48, showcasing a 402.75% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $24.17 billion, indicating a 236.08% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $23.84 per share and a revenue of $105.13 billion, representing changes of +83.95% and +72.56%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nvidia. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 3.09% higher within the past month. Right now, Nvidia possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note Nvidia's current valuation metrics, including its Forward P/E ratio of 37.52. This denotes a premium relative to the industry's average Forward P/E of 27.08.
We can additionally observe that NVDA currently boasts a PEG ratio of 1.21. 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 2.49.
The Semiconductor - General industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.