Time: 2024-07-31
NVIDIA Corporation , based in Santa Clara , California , is a technology company known for its GPUs and AI solutions . With a market cap of .74 trillion , NVIDIA is set to announce its fiscal Q2 earnings after the market closes on Wednesday , Aug. 28 . Analysts predict a 7.7 % return on NVDA stock.
In Q1 , NVIDIA exceeded analysts ' expectations with a 262 % year - over - year revenue increase to 6.04 billion . The company also provided strong revenue guidance of 8 billion for the next quarter , leading to a 9 % increase in stock value in the following trading session . The consensus rating for NVDA stock is Strong Buy , with 33 out of 39 analysts recommending a Strong Buy , two suggesting a Moderate Buy , and four recommending a Hold.
Three months ago , NVDA had 35 Strong Buy ratings , indicating a slightly less bullish sentiment currently . The average analyst price target for NVDA is 41.29 , suggesting a potential upside of 26.6 % from the current levels . Rashmi Kumari , the author of the article , does not hold any positions in the securities mentioned in the article.
The stock market is eagerly awaiting NVIDIA 's Earnings call , with high expectations for continued growth and innovation in the gaming , data center , and AI sectors . The company 's strong performance in the past quarter and positive revenue guidance have contributed to a bullish outlook from analysts and investors alike . With a solid track record of success and a focus on cutting - edge technology , NVIDIA remains a key player in the tech industry .
Investors should keep a close eye on NVDA 's upcoming earnings announcement to gain insights into the company 's financial health and future prospects . As the market continues to evolve and technology advances , NVIDIA 's position as a leader in GPUs and AI solutions positions it well for continued success in the ever - changing tech landscape .
In conclusion , NVIDIA 's upcoming earnings report is a highly anticipated event in the financial world , with the potential to impact the stock 's performance and investor sentiment . With strong revenue growth and a positive outlook from analysts , NVDA continues to be a top pick for investors seeking exposure to the technology sector.