Nvidia stock rises slightly, underperforms market

From Nasdaq: 2024-04-29 17:45:19

Nvidia (NVDA) closed at $877.57 with a +0.03% change from the previous day. It underperformed the S&P 500, which gained 0.32%, and trailed the Dow and Nasdaq, which rose by 0.38% and 0.35%, respectively. NVDA stock has declined by 2.9% in the last month, lagging behind the Computer and Technology sector.

The forthcoming earnings report for Nvidia on May 22, 2024, is eagerly awaited by investors. Analysts predict EPS of $5.49, a 403.67% increase from last year, and revenue of $24.17 billion, a 236.08% rise. Recent estimate revisions indicate analysts’ positive outlook on the company’s prospects, leading to stock price momentum.

Nvidia carries a Zacks Rank of #2 (Buy), with a 30-day consensus EPS projection increase of 0.44%. Investors should consider the current Forward P/E of 36.65 and PEG ratio of 1.19. The Semiconductor – General industry, to which Nvidia belongs, has an average PEG ratio of 2.19 and a Zacks Industry Rank of 194.

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Read more at Nasdaq: Nvidia (NVDA) Rises But Trails Market: What Investors Should Know