Why Nvidia Stock Is Jumping Nearly 2% Premarket Today
Portfolio Pulse from Shanthi Rexaline
Shares of Nvidia Corp. (NASDAQ:NVDA) rose in premarket trading on Monday due to positive commentaries from analysts regarding its Q2 earnings. Analysts estimate earnings per share of $2.07 on revenue of $11.17 billion, an increase from the previous year. KeyBanc Capital Markets and HSBC analysts have raised their price targets for Nvidia. The stock has nearly doubled year-to-date and is the best-performing S&P 500 stock for the year.
August 21, 2023 | 11:27 am
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Nvidia's stock rose in premarket trading due to positive Q2 earnings expectations. Analysts have raised their price targets, indicating a positive outlook for the company.
The rise in Nvidia's stock price is directly related to the positive expectations for its Q2 earnings. The increase in price targets by analysts indicates a positive outlook for the company, which could lead to further increases in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100