NVIDIA Corporation (NASDAQ:NVDA) investors seemed to be subdued ahead of the earnings announcement on Tuesday as the stock fell 1.05 percent on Monday’s normal trading session. Aside from the earnings number for the March quarter, investors would be looking for a upbeat forecast for the remainder of the year. If the company fails to provide upbeat outlook, then the stock could come under pressure.
NVIDIA shares have closed about 15 percent lower than the 52-week high price of $120.92 recorded on February 7. Since the first quarter ended, the stock lost about five percent. The recent drop comes amidst 238 percent jump in share price in 2016. Aside from that, Citron Research issued a note suggesting that the stock plunge to about $90 levels in the current year.
For the first quarter, analysts’ are looking for earnings of 67 cents a share and revenue of $1.91 billion. Significantly, analysts have boosted their EPS estimate from 64 cents ninety days back to 66 cents two months ago and to the current view one month back. Also, the company’s EPS winning percentage varied between 3.10 percent and 45.6 percent in the last four quarters.
The following brokerages have given their opinion since the completion of First quarter in April:
- Riley reiterated its Buy rating and a target price of $135.
- Pacific Crest reiterated its Underweight rating and a price tag of $90.
- Instinet reiterated its Reduce rating while keeping the price objective at $90.
- Royal Bank of Canada reiterated its Buy rating and retained the $130 price target.
- BMO Capital Markets reiterated its Underperform rating and kept %$85 as the price target
- CFRA has Hold rating while retaining a price tag of $100.
In all, there were 39 analysts have given their opinion on the stock. NAVDIA shares are assigned with a Bu rating by 20 analysts while 13 analysts have given a Hold rating. Six analysts have managed sell ratings. The consensus price objective is $100.84.