While he maintained a “buy” rating on NVDA stock, this lower target is difficult to ignore.
On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.Before Nvidia announced its plan to double shares, Truist analyst William Stein lowered his price target from $347 to $298. Turning to the stock’s technical picture we see that short term indicators suggest on average that NVDA is a 100% Sell. Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Wall Street analysts have also projected the company’s year-on-year revenue for 2023 to grow to $33.34 billion, representing a 23.90% jump on that reported in the last financial year. The average forecast suggests up to a 28.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Per the data, EPS growth is expected to be 20.30% for 2022 and 17.20% for the next financial year.Īnalysts have a consensus estimate of $8.1 billion for the company’s revenue for the quarter, with a low and high estimate of $7.88 billion and $8.2 billion respectively.
Analysts project the company’s earnings per share (EPS) to be $1.25, which has seen fiscal year 2023 EPS growth forecast to increase to $5.34 and about $6.26 for fiscal year 2024. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. The company has a Forward Dividend ratio of 0.16, with its dividend yield at 0.13%. NVIDIA Corporation’s market cap currently stands at around $318.27 billion, with investors looking forward to this quarter’s earnings report slated for – Nov 21, 2022.
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