Nvidia stock down despite market gains, upcoming earnings report shows potential growth

From Nasdaq: 2024-08-09 17:45:10

Nvidia (NVDA) closed at $104.75, down 0.21% from the previous session. Shares have fallen 17.61% in the past month, underperforming the Computer and Technology sector. The upcoming earnings report on August 28, 2024, is expected to show an EPS of $0.64 and revenue of $28.24 billion, up from last year.

Analysts predict a yearly EPS of $2.69 and revenue of $117.82 billion. Recent estimate changes for Nvidia reflect optimism in the company’s ability to generate profits. The Zacks Rank, which considers these changes, currently rates Nvidia as a Hold. The stock price typically responds to these analyst estimate adjustments.

Nvidia’s Forward P/E ratio is 39.04, higher than the industry average of 22.91. The company’s PEG ratio of 1.04 indicates growth potential, compared to the industry’s 3.5 ratio. The Semiconductor – General industry is ranked 216 out of 250+ in the Computer and Technology sector by Zacks, signaling below-average performance.

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Read more at Nasdaq: Nvidia (NVDA) Stock Drops Despite Market Gains: Important Facts to Note