Nvidia (NVDA – Free Report) closed the latest trading day at $104.75, indicating a -0.21% change from the previous session’s end. This change lagged the S&P 500’s daily gain of 0.47%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.51%. 
depositphotosShares of the maker of graphics chips for gaming and artificial intelligence have depreciated by 17.61% over the course of the past month, underperforming the Computer and Technology sector’s loss of 11.22% and the S&P 500’s loss of 4.45%.The upcoming earnings release of Nvidia will be of great interest to investors. The company’s earnings report is expected on August 28, 2024. The company is expected to report EPS of $0.64, up 137.04% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $28.24 billion, up 109.04% from the year-ago period.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.69 per share and revenue of $117.82 billion, indicating changes of +106.92% and +93.39%, respectively, compared to the previous year.Investors should also note any recent changes to analyst estimates for Nvidia. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.28% upward. Nvidia is currently a Zacks Rank #3 (Hold).From a valuation perspective, Nvidia is currently exchanging hands at a Forward P/E ratio of 39.04. Its industry sports an average Forward P/E of 22.91, so one might conclude that Nvidia is trading at a premium comparatively.We can additionally observe that NVDA currently boasts a PEG ratio of 1.04. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. As the market closed yesterday, the Semiconductor – General industry was having an average PEG ratio of 3.5.The Semiconductor – General industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 15% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.More By This Author:3 Reasons Growth Investors Will Love UMHTime To Buy The Dip In Disney’s Stock After Earnings? Can Cisco Stock Regain Momentum After 9.3% YTD Dip?
Leave A Comment