Trading Strategies For Nvidia Stock Before And After Q2 Earnings
Portfolio Pulse from Melanie Schaffer
NVIDIA Corporation (NASDAQ:NVDA) stock rose about 2.5% ahead of its Q2 earnings release. In Q1, Nvidia reported earnings per share of $1.09 on revenues of $7.19 billion, exceeding estimates. For Q2, analysts estimate earnings per share of $2.09 on revenues of $11.22 billion. BMO Capital analyst Ambrish Srivastava maintained an Outperform rating on Nvidia and raised a price target from $450 to $550. Analysts from Keybanc and HSBC also raised their price targets. The AXS 1.25x NVDA Bear Daily ETF (NASDAQ:NVDS) is suggested for short-term traders who believe Nvidia will have a bearish reaction to its earnings.
August 23, 2023 | 7:16 pm
News sentiment analysis
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POSITIVE IMPACT
NVIDIA's stock rose ahead of its Q2 earnings release. Analysts have raised their price targets, indicating positive sentiment.
The rise in NVIDIA's stock price ahead of its Q2 earnings release and the raised price targets by analysts indicate positive sentiment towards the company. This could potentially lead to a further increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The AXS 1.25x NVDA Bear Daily ETF (NASDAQ:NVDS) is suggested for short-term traders who believe Nvidia will have a bearish reaction to its earnings.
The suggestion of the AXS 1.25x NVDA Bear Daily ETF for short-term traders who expect a bearish reaction to Nvidia's earnings indicates a potential decrease in the ETF's price if Nvidia's earnings are positive.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60