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Should You Buy #1 (Strong Buy)-Ranked Nvidia (NVDA) for Your Portfolio?
Nvidia was upgraded to the Zacks Rank #1 list on March 29, 2022. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
NVIDIA Corporation is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence (AI) based solutions that now support high performance computing (HPC), gaming and virtual reality (VR) platforms.
12 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.39 to $5.55 per share. NVDA boasts an average earnings surprise of 7%.
Earnings are expected to grow 25% for the current fiscal year, while revenue is projected to increase 28.2%.
Additionally, NVDA has climbed higher over the past four weeks, gaining 22.1%. The S&P 500 is up 6% in comparison.
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Nvidia could be just the stock to help your portfolio generate returns that could fund your retirement, your kids’ college tuition, or your short- and long-term savings goals.
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NVIDIA Corporation (NVDA) : Free Stock Analysis Report
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