NVIDIA Corporation (NASDAQ:NVDA) is a stock to watch today. At current price of $210.54, the shares have already lost -6.2 points (-2.86% lower) from its previous close of $216.74. The stock sets an active trading volume day with a reported 3526233 contracts so far this session. NVDA shares had a relatively better volume day versus average trading capacity of 8.53 million shares, but with a 0.59 billion float and a 3.12% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NVDA stock indicates that the average analyst price target is $232.8 per share. This means the stock has a potential increase of 10.57% from where the NVDA share price has been trading recently which is between $215.78 and $218.14. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $140. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $275.
Looking at the current readings for NVIDIA Corporation, the two-week RSI stands at 53.9. This figure suggests that NVDA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NVDA readings is similarly very revealing as it has a stochastic reading of 71.42% at this stage. This figure means that NVDA share price today is being oversold.
Technical chart claims that NVIDIA Corporation (NVDA) would settle between $217.99/share to $219.25/share level. However, if the stock price goes below the $215.63 mark, then the market for NVIDIA Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $214.53 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.6. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Morgan Stanley raised their recommendation on shares of NVDA from Equal-Weight to Overweight in their opinion released on November 25. Daiwa Securities analysts have lowered their rating of NVIDIA Corporation (NASDAQ:NVDA) stock from Buy to Outperform in a separate flash note issued to investors on November 22. Analysts at Craig Hallum released an upgrade from Hold to Buy for the stock, in a research note that dated back to November 15.
NVDA equity has an average rating of 2.5, with the figure leaning towards a bullish end. 37 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 28 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 25 analysts rated NVIDIA Corporation (NASDAQ:NVDA) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NVDA stock price is currently trading at 29.97X forward 12-month Consensus EPS estimates, and its P/E ratio is 55.4 while for the average stock in the same group, the multiple is 23.7. NVIDIA Corporation current P/B ratio of 11.8 means it is trading at a premium against its industry’s 4.6.
NVIDIA Corporation (NVDA)’s current-quarter revenues are projected to climb by nearly 34.1% to hit $2.96 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -8.1% from $11.72 billion to a noteworthy $10.77 billion. At the other end of the current quarter income statement, NVIDIA Corporation is expected to see its adjusted earnings surge by roughly 107.5% to hit $1.66 per share. For the fiscal year, NVDA’s earnings are projected to climb by roughly -16.1% to hit $5.57 per share.