Brian Bolan of Zacks recommends buying Nvidia after earnings beat, stock split, and dividend increase.

From Nasdaq: 2024-05-23 17:01:00

Brian Bolan of Zacks Investment Research recommends buying Nvidia (NVDA) after their recent earnings beat, marking the 6th consecutive beat. Earnings per share of $6.12 surpassed the Zacks consensus by 11.5%. Sales were $26B, above the $24.3B expectation. The company also announced a stock split and 150% dividend increase.

The Zacks Portfolio Managers, including David Bartosiak, Kevin Cook, and Andrew Rocco, all have NVDA in their portfolios, with the stock being the top performer. Bartosiak’s Blockchain Innovators has seen gains of over 2300%, Cook’s TAZR service has a 744% return, and Rocco’s Tech Innovators is up 20.5%.

Despite a high valuation, Bolan suggests buying NVDA as the company is preparing for growth in AI and accelerated computing. Higher revenues, increased margins, and growth in earnings per share indicate potential for share price increase. The company’s focus on continued growth makes it a good investment opportunity.



Read more at Nasdaq: Brian’s Big Idea on Nvidia (NVDA), Should You Buy Now?