Will Earnings Keep Nvidia (NVDA) Stock’s Momentum Alive? – Kiplinger’s Personal Finance

Nvidia (NVDA, $306.20) inventory has been purple-scorching recently, with the shares up 57% since bouncing off the $200 mark in early October.

However can the semiconductor agency maintain the momentum going after Nvidia’s third-quarter report, scheduled on the earnings calendar for after Wednesday’s shut?

Wall Road execs are definitely upbeat forward of The outcomes.

CFRA Evaluation analyst Angelo Zino, For event, recently lifted his worth goal on NVDA inventory to $330 from $212 To mirror “our greater confidence surrounding progress execspects and upside potential to consensus estimates.” 

Collectively with an enhancing current-chain state of affairs for Nvidia, “We anticipate The possibilities forward for the graphics processing unit (GPU) space are monumental – gaming, knowledge facilities and autonomous automobiles – and poised To understand a greater pockets share from cloud service suppliers than we beforehand anticipated,” he provides.

The optimism is shapurple by Wedbush analyst Matt Bryson. True, he recently downgraded the inventory to Impartial from Outperform – the equivalents of Maintain and Buy, respectively – but said that whereas he would typically “Want to tie a rating change to some Sort of adverse catalyst; frankly There’s none.”

Instead, the downgrade was extra a Outcomes of valuation considerations following the inventory’s race up the charts. He stays “very bullish” on the semiconductor inventory in each the shut to and Prolonged time period. As for The agency’s upcoming earnings report, Bryson think abouts “The combination of unprecedented demand For every knowledge center and shopper choices will permit NVDA to as quickly as extra exceed anticipateations Once they report quantitys.”

Bryson is anticipating earnings per share (EPS) of $1.10 and incomes of $6.8 billion. Analysts, on common, are guiding for barely greater earnings of $1.11 per share – up 52.1% yr-over-yr (YoY) – on $6.8 billion in gross sales.

House Depot Headlines Busy Stretch of Retail Earnings

Wall Road will get a clearer Take A look at consumers’ spending conduct Inside the third quarter, with a quantity of retailers set to report earnings. Amongst them is home enhancement retailer House Depot (HD, $371.12), Which might unveil its third-quarter results forward of Tuesday’s open. 

Analysts, for In all probability the most half, are optimistic in the direction of HD inventory. Of the 33 following the blue chip That are tracked by S&P Worldwide Market Intelligence, 15 think about It is A strong Buy And seven say Buy. That is As compapurple with 10 Which have it at Maintain and One which deems it A strong Promote.

Raymond James analyst Bobby Griffin is A type of that has …….

Source: https://www.kiplinger.com/investing/stocks/603749/will-earnings-keep-nvidia-nvda-stocks-momentum-alive

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