Wall Street analysts expect that NVIDIA Co. (NASDAQ:NVDA) will post $2.90 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for NVIDIA’s earnings. The highest sales estimate is $2.91 billion and the lowest is $2.90 billion. NVIDIA reported sales of $3.18 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.8%. The company is expected to issue its next earnings results after the market closes on Thursday, November 14th.
On average, analysts expect that NVIDIA will report full year sales of $10.73 billion for the current financial year, with estimates ranging from $10.60 billion to $10.84 billion. For the next year, analysts anticipate that the business will report sales of $12.96 billion, with estimates ranging from $12.16 billion to $13.59 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover NVIDIA.
NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 15th. The computer hardware maker reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.37. NVIDIA had a net margin of 26.93% and a return on equity of 24.40%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the company earned $1.94 earnings per share. The firm’s revenue for the quarter was down 17.4% on a year-over-year basis.
Several research firms have recently issued reports on NVDA. DZ Bank downgraded NVIDIA from a “hold” rating to a “sell” rating and set a $158.00 price target for the company. in a research note on Friday, September 13th. FBN Securities set a $190.00 price target on NVIDIA and gave the stock a “buy” rating in a research note on Friday, August 16th. Daiwa Capital Markets set a $200.00 price target on NVIDIA and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of NVIDIA in a research note on Wednesday, August 21st. Finally, Mizuho reaffirmed a “buy” rating and set a $185.00 price target (down previously from $192.00) on shares of NVIDIA in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. NVIDIA currently has an average rating of “Buy” and an average target price of $189.15.
NVDA stock traded down $0.56 during midday trading on Monday, reaching $207.78. 4,727,100 shares of the company were exchanged, compared to its average volume of 11,881,960. The company has a market cap of $127.65 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 5.39 and a beta of 2.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 7.74 and a current ratio of 8.65. NVIDIA has a 1-year low of $124.46 and a 1-year high of $211.70. The stock’s 50-day simple moving average is $189.47 and its 200 day simple moving average is $169.78.
In other NVIDIA news, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $167.36, for a total value of $418,400.00. Following the completion of the transaction, the director now owns 18,184 shares in the company, valued at approximately $3,043,274.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael G. Mccaffery sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $165.97, for a total value of $2,489,550.00. Following the completion of the transaction, the director now owns 27,579 shares of the company’s stock, valued at approximately $4,577,286.63. The disclosure for this sale can be found here. Insiders have sold a total of 66,383 shares of company stock valued at $11,625,217 in the last quarter. Company insiders own 4.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Nuveen Asset Management LLC boosted its holdings in NVIDIA by 2,475.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,002,209 shares of the computer hardware maker’s stock worth $493,052,000 after acquiring an additional 2,885,660 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in NVIDIA by 22,776.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 883,719 shares of the computer hardware maker’s stock worth $88,372,000 after acquiring an additional 879,856 shares during the period. Jennison Associates LLC boosted its holdings in NVIDIA by 10.6% in the 2nd quarter. Jennison Associates LLC now owns 8,690,058 shares of the computer hardware maker’s stock worth $1,427,168,000 after acquiring an additional 832,508 shares during the period. Renaissance Technologies LLC purchased a new position in NVIDIA in the 2nd quarter worth approximately $101,986,000. Finally, Vanguard Group Inc. boosted its holdings in NVIDIA by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 45,990,868 shares of the computer hardware maker’s stock worth $7,553,081,000 after acquiring an additional 528,040 shares during the period. Hedge funds and other institutional investors own 64.45% of the company’s stock.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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