Earnings Growth & Price Strength Make Nvidia (NVDA) a Stock to Watch
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Nvidia (NVDA)
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.
NVDA was added to the Zacks Focus List on May 20, 2019 at $39.13 per share. Since then, shares have increased 1021.9% to $439.
15 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $2.90 to $10.67. NVDA also boasts an average earnings surprise of 9.8%.
Earnings for Nvidia are forecasted to see growth of 219.5% for the current fiscal year as well.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like NVDA, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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NVIDIA Corporation (NVDA) : Free Stock Analysis Report
