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Nvidia (NVDA) Stock Sinks As Market Gains: What You Should Know
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Nvidia (NVDA - Free Report) closed the most recent trading day at $423.88, moving -0.39% from the previous trading session. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the maker of graphics chips for gaming and artificial intelligence had lost 3.07% in the past month. In that same time, the Computer and Technology sector gained 0.11%, while the S&P 500 gained 1.66%.
Wall Street will be looking for positivity from Nvidia as it approaches its next earnings report date. This is expected to be August 23, 2023. In that report, analysts expect Nvidia to post earnings of $2.06 per share. This would mark year-over-year growth of 303.92%. Meanwhile, our latest consensus estimate is calling for revenue of $11.02 billion, up 64.35% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.79 per share and revenue of $42.78 billion. These totals would mark changes of +133.23% and +58.61%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nvidia. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.58% higher. Nvidia is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nvidia has a Forward P/E ratio of 54.65 right now. For comparison, its industry has an average Forward P/E of 22.79, which means Nvidia is trading at a premium to the group.
Investors should also note that NVDA has a PEG ratio of 4.05 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - General industry currently had an average PEG ratio of 3.25 as of yesterday's close.
The Semiconductor - General industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nvidia (NVDA) Stock Sinks As Market Gains: What You Should Know
Nvidia (NVDA - Free Report) closed the most recent trading day at $423.88, moving -0.39% from the previous trading session. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the maker of graphics chips for gaming and artificial intelligence had lost 3.07% in the past month. In that same time, the Computer and Technology sector gained 0.11%, while the S&P 500 gained 1.66%.
Wall Street will be looking for positivity from Nvidia as it approaches its next earnings report date. This is expected to be August 23, 2023. In that report, analysts expect Nvidia to post earnings of $2.06 per share. This would mark year-over-year growth of 303.92%. Meanwhile, our latest consensus estimate is calling for revenue of $11.02 billion, up 64.35% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.79 per share and revenue of $42.78 billion. These totals would mark changes of +133.23% and +58.61%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nvidia. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.58% higher. Nvidia is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Nvidia has a Forward P/E ratio of 54.65 right now. For comparison, its industry has an average Forward P/E of 22.79, which means Nvidia is trading at a premium to the group.
Investors should also note that NVDA has a PEG ratio of 4.05 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - General industry currently had an average PEG ratio of 3.25 as of yesterday's close.
The Semiconductor - General industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.