Nvidia beats Q3 expectations as data center sales climbs

What Wall Street Thinks Of Nvidia's Huge Quarter

Wall Street was looking for earnings of 94 cents per share on revenue of $2.36 billion. It also reduced its holding in Apple Inc (NASDAQ:AAPL) by 76,410 shares in the quarter, leaving it with 472,740 shares, and cut its stake in Zillow Group Inc. They now have a $230.00 price target on the computer hardware maker's stock, up from their prior price target of $220.00.

Welch & Forbes Llc increased Starbucks Corp (NASDAQ:SBUX) stake by 15,258 shares to 147,256 valued at $8.59M in 2017Q2. Lombard Odier Asset Mgmt (Europe) Ltd invested 0.05% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Inc. now owns 822 shares of the computer hardware maker's stock valued at $119,000 after purchasing an additional 6 shares in the last quarter. Ngam Advsr LP has invested 0.11% in NVIDIA Corporation (NASDAQ:NVDA). Hanson McClain Inc. now owns 881 shares of the computer hardware maker's stock valued at $127,000 after acquiring an additional 99 shares during the period. Active Investors often maintain a close study on trading capacity of NVDA stock.

A number of other brokerages have also issued reports on NVDA.

The price target set for the stock is $172.08 and this sets up an interesting set of potential movement for the stock, according to data from Finviz's Research. Oppenheimer Holdings, Inc. reissued a "hold" rating on shares of NVIDIA Corporation in a research note on Sunday. Comerica Securities Inc bought 37,469 shares as the company's stock declined 4.23% while stock markets rallied. Vetr upgraded shares of Nvidia Corp. from a "sell" rating to a "hold" rating and set a $92.00 target price for the company in a research note on Monday, November 28th.

Currently, NVDA is a Zacks Rank #2 (Buy) and is relatively flat in after-hours trading shortly after its earnings report was released.

Analysts have given a mean recommendation of 2.40 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

What can we expect from NVIDIA Corporation (NASDAQ:NVDA) in the future?

Publicly-traded company NVIDIA Corporation (NASDAQ:NVDA) had a closing price of $209.16 yesterday. When we divide the last trade volume by the 3-month average volume, we found out a relative volume of 0.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.99 and a current ratio of 7.82. The company has a market capitalization of $121,810.00, a PE ratio of 59.56, a price-to-earnings-growth ratio of 5.24 and a beta of 1.23.

NVIDIA Corporation shares increased 0.95 percent over the past week and rose 10.71 percent over the previous month.

Wall Street analysts, on average, are forecasting the company's EPS to be 0.94, compared to 0.83 reported in the same quarter previous year. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.32.

Analysts believe that the company has the potential to earn average revenue of $2.36 Billion for the current quarter.

Revenue from gaming, for which the company is best known, rose 25.5 percent to $1.56 billion, accounting for almost 60 percent of total revenue in the third quarter.

Maximum and minimum EPS estimate for the current quarter is projected at $0.91 and $0.79, respectively, according to 21 analysts.

ILLEGAL ACTIVITY WARNING: This article was originally reported by Week Herald and is the sole property of of Week Herald. If you are accessing this story on another site, it was illegally stolen and reposted in violation of USA and worldwide copyright law. Hightower Advsr Lc holds 68,800 shares or 0.09% of its portfolio. The shares were sold at an average price of $185.31, for a total value of $4,226,550.48.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

In related news, CFO Colette Kress sold 22,808 shares of the stock in a transaction that occurred on Monday, October 9th. Following the completion of the sale, the director now directly owns 48,069 shares of the company's stock, valued at $7,798,714.56. Insiders have sold 452,784 shares of company stock valued at $81,437,724 over the last ninety days.

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