NVIDIA Corp. (NVDA) Releases Quarterly Earnings Results
NVIDIA Corp. (NASDAQ:NVDA) posted its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.14, Analyst Ratings Net reports. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.26 earnings per share. NVIDIA Corp.’s revenue was up 3.3% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Susquehanna upgraded shares of NVIDIA Corp. from a “negative” rating to a “neutral” rating in a research note on Monday, February 3rd. They now have a $14.00 price target on the stock, up previously from $10.50. On the ratings front, analysts at Evercore Partners upgraded shares of NVIDIA Corp. from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. They now have a $16.00 price target on the stock. Finally, analysts at Canaccord Genuity downgraded shares of NVIDIA Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. They now have a $16.00 price target on the stock. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.35.
Shares of NVIDIA Corp. (NASDAQ:NVDA) traded up 1.05% on Wednesday, hitting $16.42. 3,198,980 shares of the company’s stock traded hands. NVIDIA Corp. has a 52-week low of $12.04 and a 52-week high of $16.44. The stock has a 50-day moving average of $15.80 and a 200-day moving average of $15.42. The company has a market cap of $9.335 billion and a price-to-earnings ratio of 20.99.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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