Monday, November 6, 2023

Nvidia: IBD Stock Of The Day -- November 6, 2023

Locator: 45965INV. 

IBD stock of the day! Link here.

The Santa Clara, Califonia-based company plans to release its results for the quarter ended October 29 after the market close on November 21.
Analysts polled by FactSet predict Nvidia will earn $3.33 a share on sales of $16.06 billion. In the year-earlier quarter, Nvidia earned 58 cents a share on sales of $5.93 billion.
Demand for graphics processors and data-center hardware for artificial intelligence applications has been fueling huge sales and earnings growth for Nvidia this year.
In a weekend note to clients, investment firm Evercore ISI called Nvidia "arguably the most important stock in the world right now."
Nvidia is a key player among "AI enablers, adopters and adapters," Evercore said.
The firm rates Nvidia as outperform with a price target of 600.
Evercore analysts noted that Nvidia stock "has made a stalwart defense of its months-long support line at $400.
Nvidia (NVDA) stock is the IBD Stock Of The Day as the artificial intelligence chipmaker forms a bullish chart pattern ahead of its fiscal third-quarter report.

Folks may want to note this:

Analysts polled by FactSet predict Nvidia will earn $3.33 a share on sales of $16.06 billion. In the year-earlier quarter, Nvidia earned 58 cents a share on sales of $5.93 billion.

Earnings whispers:

  • consensus: $3.16
    • FactSet: forecast: $3.33
  • whisper: $3.47
  • consensus: $14.50 billion

Share price:

  • one year ago: $143
  • today: $458

Back-of-the-envelope:

  • $3.35 / $0.58 = 5.78
  • 458 / 143 = 3.20
  • 5.78 x 143 = $826

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.