What to Expect When Nvidia Reports After the Close

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Nvidia Corp. (NASDAQ: NVDA) is scheduled to release its fiscal first-quarter financial results after the markets close on Thursday. The consensus estimates call for $1.45 in earnings per share (EPS) on $2.9 billion in revenue. In the same period of last year, it said it had EPS of $0.79 and $1.94 billion in revenue.

This firm notched a record quarter in its most recent report, capping an excellent year. In a powerful sign of its progress, attendees at Nvidia’s GPU Technology Conferences reached 22,000, up tenfold in five years, as software developers working in artificial intelligence, self-driving cars and a broad range of other fields continued to discover the acceleration and money-saving benefits of Nvidia’s platform.

This was the king of the chip stocks in 2017, and while analysts kept hiking their price targets at a fast rate, that was not fast enough to keep up with its big gains last year. Then came a brief pullback, but Nvidia has seemed to be almost immune to the recent processor woes of AMD and Intel.

The chip maker made a couple deals to get into businesses that it believes will be the future of the driving industry. Nvidia picked two prominent partners as it made announcements about the plans at the Consumer Electronics Show in January.

Excluding Thursday’s move, Nvidia had vastly outperformed the broad markets, with its stock up about 150% in the past 52 weeks. In 2018 alone, the stock was just up 32%.

A few analysts weighed in on Nvidia ahead of the earnings report:

  • Deutsche Bank has a Hold rating with a $240 price target.
  • Barclays has an Overweight rating and a $280 price target.
  • Morgan Stanley has an Overweight rating with a $258 target.
  • UBS has a Neutral rating with a $250 price target.
  • Argus has a Buy rating with a $280 target price.
  • RBC has an Outperform rating with a $285 target.

Shares of Nvidia were last seen up about 1% at $258.43 on Thursday, with a consensus analyst price target of $250.42 and a 52-week range of $119.91 to $259.93.

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