(NASDAQ:NVDA) shot up six percent by early afternoon on Wednesday as analysts released positive estimated earnings for NVDA stock. The big win for NVDA stock is the average earnings estimate that analysts are giving of about $0.86 per share, " width="300" height="205" srcset="https://i2.wp.com/investorsbuz.com/wp-content/uploads/2016/12/NVDA-stock-300x205.resized.jpg?resize=300%2C205&ssl=1 300w, https://i2.wp.com/investorsbuz.com/wp-content/uploads/2016/12/NVDA-stock-300x205.resized.jpg?w=640&ssl=1 640w" sizes="(max-width: 300px) 100vw, 300px" />
Big on NVDA Stock As for revenue estimates, 26 analysts have provided their consensus average for NVDA stock at $2.1 billion, again a huge swing upward from year-ago sales of $1.4 billion. (Source: “Stock’s Earning Overview: NVIDIA Corporation (NASDAQ:NVDA),” News Oracle, December 14, 2016.)
A final feather in the cap for NVDA stock is that the forecasted growth estimate for the current quarter is set to be 137.1%, with a per annum growth of 28.58%, as opposed to the 19.91% growth per annum seen over the past five years.
NVIDIA already has car chips in over 10 million vehicles across the world, positioning itself as the provider of choice for the industry. Not to mention that Tesla Motors Inc (NASDAQ:TSLA) uses the “NVIDIA Drive PX 2” in its autonomous car systems, and you have a stock that may be poised for success. The Drive PX 2, by the way, is reportedly 40 times faster than earlier technologies. With key improvements like this, it’s easy to see why NVDA stock had such a fantastic year.
Click here for reuse options!