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Nvidia (NVDA) Rises But Trails Market: What Investors Should Know
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The latest trading session saw Nvidia (NVDA - Free Report) ending at $877.57, denoting a +0.03% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.35%.
The the stock of maker of graphics chips for gaming and artificial intelligence has fallen by 2.9% in the past month, lagging the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2%.
The investment community will be closely monitoring the performance of Nvidia in its forthcoming earnings report. The company is scheduled to release its earnings on May 22, 2024. The company is predicted to post an EPS of $5.49, indicating a 403.67% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $24.17 billion, indicating a 236.08% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $23.94 per share and a revenue of $106.05 billion, signifying shifts of +84.72% and +74.07%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Nvidia. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.44% higher. At present, Nvidia boasts a Zacks Rank of #2 (Buy).
Investors should also note Nvidia's current valuation metrics, including its Forward P/E ratio of 36.65. This signifies a premium in comparison to the average Forward P/E of 21.78 for its industry.
Investors should also note that NVDA has a PEG ratio of 1.19 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 2.19 as of yesterday's close.
The Semiconductor - General industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 194, this industry ranks in the bottom 24% of all industries, numbering over 250.
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) Rises But Trails Market: What Investors Should Know
The latest trading session saw Nvidia (NVDA - Free Report) ending at $877.57, denoting a +0.03% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.35%.
The the stock of maker of graphics chips for gaming and artificial intelligence has fallen by 2.9% in the past month, lagging the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2%.
The investment community will be closely monitoring the performance of Nvidia in its forthcoming earnings report. The company is scheduled to release its earnings on May 22, 2024. The company is predicted to post an EPS of $5.49, indicating a 403.67% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $24.17 billion, indicating a 236.08% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $23.94 per share and a revenue of $106.05 billion, signifying shifts of +84.72% and +74.07%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Nvidia. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.44% higher. At present, Nvidia boasts a Zacks Rank of #2 (Buy).
Investors should also note Nvidia's current valuation metrics, including its Forward P/E ratio of 36.65. This signifies a premium in comparison to the average Forward P/E of 21.78 for its industry.
Investors should also note that NVDA has a PEG ratio of 1.19 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 2.19 as of yesterday's close.
The Semiconductor - General industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 194, this industry ranks in the bottom 24% of all industries, numbering over 250.
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.