Nvidia Stock Is Up 150% in 2024. History Says the AI Stock Will Do This in the Second Half of the Year (Hint: It May Shock You).
How do current Wall Street analysts rate Nvidia stock?
Current Wall Street analysts rate Nvidia stock predominantly as a buy, with 90% of the 60 analysts covering the stock recommending it4. The remaining 10% rate it as a hold, and none currently recommend selling4. The median 12-month price target is $127.50 per share, implying a potential 3% upside from the current price of $124 per share.
How does Nvidia's current valuation compare to its earnings growth?
Nvidia's current valuation stands at 70 times earnings, which may seem reasonable given its impressive earnings growth. Analysts expect the company to grow earnings per share at 33% annually over the next three to five years. This growth forecast, coupled with Nvidia's dominance in the AI market, supports its valuation.
By what percentage have Nvidia's earnings exceeded estimates recently?
Nvidia's earnings have recently exceeded estimates by significant margins. In the quarter ended January 2024, the company delivered earnings and revenue surprises of 13.41% and 8.82%, respectively. Over the last four quarters, Nvidia has surpassed consensus EPS estimates four times.