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Nvidia (NVDA) Dips More Than Broader Markets: What You Should Know
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Nvidia (NVDA - Free Report) closed at $593.16 in the latest trading session, marking a -0.52% move from the prior day. This move lagged the S&P 500's daily loss of 0.44%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.72%.
Coming into today, shares of the maker of graphics chips for gaming and artificial intelligence had gained 17.7% in the past month. In that same time, the Computer and Technology sector gained 10.21%, while the S&P 500 gained 4.46%.
NVDA will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2021. On that day, NVDA is projected to report earnings of $2.80 per share, which would represent year-over-year growth of 48.15%. Our most recent consensus estimate is calling for quarterly revenue of $4.83 billion, up 55.41% from the year-ago period.
Investors might also notice recent changes to analyst estimates for NVDA. Recent revisions tend to reflect the latest near-term business trends. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. NVDA currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, NVDA is holding a Forward P/E ratio of 52.76. This represents a premium compared to its industry's average Forward P/E of 26.26.
We can also see that NVDA currently has a PEG ratio of 2.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - General industry currently had an average PEG ratio of 2.89 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 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nvidia (NVDA) Dips More Than Broader Markets: What You Should Know
Nvidia (NVDA - Free Report) closed at $593.16 in the latest trading session, marking a -0.52% move from the prior day. This move lagged the S&P 500's daily loss of 0.44%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.72%.
Coming into today, shares of the maker of graphics chips for gaming and artificial intelligence had gained 17.7% in the past month. In that same time, the Computer and Technology sector gained 10.21%, while the S&P 500 gained 4.46%.
NVDA will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2021. On that day, NVDA is projected to report earnings of $2.80 per share, which would represent year-over-year growth of 48.15%. Our most recent consensus estimate is calling for quarterly revenue of $4.83 billion, up 55.41% from the year-ago period.
Investors might also notice recent changes to analyst estimates for NVDA. Recent revisions tend to reflect the latest near-term business trends. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. NVDA currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, NVDA is holding a Forward P/E ratio of 52.76. This represents a premium compared to its industry's average Forward P/E of 26.26.
We can also see that NVDA currently has a PEG ratio of 2.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - General industry currently had an average PEG ratio of 2.89 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 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.