Nvidia stock falls slightly as market rises, analysts project significant growth

From Nasdaq: 2024-10-09 17:45:21

Nvidia (NVDA) closed at $132.65, a -0.18% change from the previous session. While the S&P 500 gained 0.71%, the Dow rose by 1.03%, and the Nasdaq increased by 0.6%. Over the past month, NVDA shares have surged by 22.93%, outperforming the Computer and Technology sector and the S&P 500.

Analysts project Nvidia’s upcoming EPS at $0.74, an 85% rise from the previous year. Quarterly revenue is estimated to reach $32.59 billion, up 79.88% from last year. For the fiscal year, earnings are forecasted at $2.81 per share and revenue at $124.17 billion, signifying significant growth.

Nvidia currently holds a Zacks Rank of #2 (Buy) and the Zacks Consensus EPS estimate has risen by 0.51% in the last 30 days. The company is trading at a Forward P/E ratio of 47.22, a premium compared to the industry average. The Semiconductor – General industry ranks in the bottom 25% of all industries.

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Read more at Nasdaq: Nvidia (NVDA) Stock Declines While Market Improves: Some Information for Investors