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- NVIDIA tops Wall Street expectations – the stock is rising in the after-hours
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- NVIDIA tops Wall Street expectations – the stock is rising in the after-hours
- Founded: 1993
- Headquarters: Santa Clara, California, United States
- Number of employees: 26,196 (2023)
- Industry: Computer hardware, computer software, cloud computing, semiconductors, artificial intelligence, GPUs Graphics cards Consumer electronics Video games
- Key people: Jensen Huang (President and CEO)
- 5 day: -8.99%
- 1 month: +9.60%
- 3 months: +38.05%
- Year-to-date: +35.80%
- 1 year: +224.05%
- Rosenblatt: $1,100
- Cantor Fitzgerald: $775
- Piper Sandler Companies: $850
- Loop Capital: $1,200
- Wedbush: $800
- Oppenheimer: $850
- Wells Fargo & Company: $840
- Susquehanna: $850
- UBS Group: $850
- Mizuho: $825
- Morgan Stanley: $750
- The Goldman Sachs Group: $800
- Raymond James: $700
- Tigress Financial: $790
- KeyCorp: $740
- DA Davidson: $410
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & analysisNews & analysisNVIDIA tops Wall Street expectations – the stock is rising in the after-hours
22 February 2024 By Klavs ValtersNVIDIA Corporation (NASDAQ: NVDA) recently briefly overtook Amazon.com Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOGL) as the fourth largest company in the world after the share price rose to a new all-time high of $746.11 on 14/2/24. Since then, the share price has fallen by over 9%, pushing the company back to sixth place.
On Wednesday, investors were awaiting the latest results from NVIDIA, which were released after the US market closed, and they did not disappoint.
The company achieved revenue, which topped Wall Street estimates at $22.1 billion vs. $20.395 billion expected. Revenue was up by whopping 265% from the same period last year.
Earnings per share (EPS) was reported at $5.16 vs. $4.593 per share estimate. EPS grew by 486.36% year-over-year.
Full year revenue increased by 126% to $60.9 billion.
Company overview
CEO commentary
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,“ Jensen Huang, CEO of the US company said in a press release to shareholders.
“Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies. Vertical industries — led by auto, financial services and healthcare — are now at a multibillion-dollar level,” Huang concluded.
Stock reaction
Shares were down by 2.85% at the end of trading on Wednesday as investors were waiting for the latest earnings results.
The stock rose by over 5% in after-hours trading. One to watch at the open on Thursday.
Stock performance
NVIDIA stock price targets
NVIDIA Corporation is the 6th largest company in the world with a market cap of $1.660 trillion, according to CompaniesMarketCap.
You can trade NVIDIA Corporation (NASDAQ: NVDA) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.
GO Markets offers pre-market and after-market trading on popular US Share CFDs.
Why trade during extended hours?
Sources: NVIDIA Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap, Macrotrends
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