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Nvidia (NVDA) Stock Dips While Market Gains: Key Facts
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Nvidia (NVDA - Free Report) closed at $131.76 in the latest trading session, marking a -1.1% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.23%.
Shares of the maker of graphics chips for gaming and artificial intelligence have appreciated by 0.93% over the course of the past month, outperforming the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45%.
The investment community will be closely monitoring the performance of Nvidia in its forthcoming earnings report. The company is predicted to post an EPS of $0.84, indicating a 61.54% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $37.72 billion, indicating a 70.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.94 per share and revenue of $129.02 billion, which would represent changes of +126.15% and +111.78%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Nvidia. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Nvidia holds a Zacks Rank of #2 (Buy).
From a valuation perspective, Nvidia is currently exchanging hands at a Forward P/E ratio of 45.33. This signifies a premium in comparison to the average Forward P/E of 22.99 for its industry.
We can also see that NVDA currently has a PEG ratio of 2.27. 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 Semiconductor - General industry currently had an average PEG ratio of 2.99 as of yesterday's close.
The Semiconductor - General industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 190, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Stock Dips While Market Gains: Key Facts
Nvidia (NVDA - Free Report) closed at $131.76 in the latest trading session, marking a -1.1% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.23%.
Shares of the maker of graphics chips for gaming and artificial intelligence have appreciated by 0.93% over the course of the past month, outperforming the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45%.
The investment community will be closely monitoring the performance of Nvidia in its forthcoming earnings report. The company is predicted to post an EPS of $0.84, indicating a 61.54% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $37.72 billion, indicating a 70.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.94 per share and revenue of $129.02 billion, which would represent changes of +126.15% and +111.78%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Nvidia. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Nvidia holds a Zacks Rank of #2 (Buy).
From a valuation perspective, Nvidia is currently exchanging hands at a Forward P/E ratio of 45.33. This signifies a premium in comparison to the average Forward P/E of 22.99 for its industry.
We can also see that NVDA currently has a PEG ratio of 2.27. 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 Semiconductor - General industry currently had an average PEG ratio of 2.99 as of yesterday's close.
The Semiconductor - General industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 190, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.