NVIDIA Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
NVIDIA Corporation (NASDAQ:NVDA) is expected to report Q3 fiscal 2023 earnings of $3.36 per share on revenue of $16.12 billion, after market close on Nov. 21, 2023. The stock closed up 2.3% at $504.09 on Monday. NVIDIA is involved in a legal issue with Valeo SE over alleged data theft. Analysts from Stifel, Piper Sandler, Wedbush, Morgan Stanley, and Citigroup have provided ratings and price targets for NVIDIA, with accuracy rates ranging from 70% to 83%.
November 21, 2023 | 4:24 pm
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POSITIVE IMPACT
NVIDIA is anticipated to report strong Q3 earnings with significant year-over-year growth. Analysts have reiterated positive ratings despite a recent legal issue with Valeo SE. The stock recently rose 2.3%.
The positive earnings forecast and recent stock price increase suggest a bullish short-term outlook. However, the ongoing legal battle with Valeo SE could introduce uncertainty, potentially mitigating some investor enthusiasm.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100