Q2 2024 EPS Estimates for NVIDIA Co. (NASDAQ:NVDA) Raised by Analyst

NVIDIA Co. (NASDAQ:NVDA – Get Rating) – Equities research analysts at KeyCorp lifted their Q2 2024 earnings estimates for shares of NVIDIA in a research report issued to clients and investors on Sunday, May 21st. KeyCorp analyst J. Vinh now forecasts that the computer hardware maker will earn $0.80 per share for the quarter, up from their previous forecast of $0.76. The consensus estimate for NVIDIA’s current full-year earnings is $3.28 per share.

Other equities research analysts have also issued research reports about the stock. Mizuho upped their target price on shares of NVIDIA from $230.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, March 22nd. TD Cowen upped their price objective on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, March 22nd. Wedbush raised their target price on shares of NVIDIA from $216.00 to $290.00 in a research note on Monday. Craig Hallum increased their price target on NVIDIA from $165.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, February 23rd. Finally, Morgan Stanley raised NVIDIA from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $255.00 to $304.00 in a research note on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.82.

NVIDIA Stock Down 0.5 %

NASDAQ NVDA opened at $305.38 on Wednesday. The business has a fifty day moving average price of $278.03 and a 200 day moving average price of $217.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The company has a market cap of $755.24 billion, a P/E ratio of 175.51, a P/E/G ratio of 5.43 and a beta of 1.77. NVIDIA has a one year low of $108.13 and a one year high of $318.28.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GoalVest Advisory LLC increased its holdings in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 108 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in NVIDIA during the 1st quarter worth about $28,000. Nordwand Advisors LLC acquired a new position in shares of NVIDIA during the 1st quarter worth about $28,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of NVIDIA by 271.2% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock valued at $30,000 after acquiring an additional 179 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of NVIDIA during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, Director Dawn E. Hudson sold 7,500 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $230.40, for a total value of $1,728,000.00. Following the completion of the transaction, the director now owns 90,350 shares in the company, valued at $20,816,640. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 6,000 shares of the stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $229.29, for a total value of $1,375,740.00. Following the sale, the chief financial officer now owns 561,401 shares of the company’s stock, valued at approximately $128,723,635.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn E. Hudson sold 7,500 shares of NVIDIA stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $230.40, for a total value of $1,728,000.00. Following the completion of the transaction, the director now owns 90,350 shares of the company’s stock, valued at approximately $20,816,640. The disclosure for this sale can be found here. Insiders have sold a total of 61,584 shares of company stock valued at $16,244,510 in the last ninety days. Company insiders own 3.99% of the company’s stock.

About NVIDIA

(Get Rating)

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.