Nvidia’s (NASDAQ:NVDA) recent second-quarter results have the market buzzing, with shares jumping by over 6% post-announcement. The chip maker smashed expectations, as it reported adjusted earnings of $2.70 per share on revenues of $13.51 billion. For reference, analysts had a consensus estimate of $2.08 per share. In addition, their gaming revenue and data center sales not only surpassed expectations but set new records, with margins comfortably beating estimates.
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But Nvidia isn’t stopping there. Indeed, its forward-looking projection is equally ambitious, forecasting $16 billion in third-quarter sales, dwarfing the analyst expectations of $12.5B. And, as if to further bolster investor confidence, the company announced a massive $25B share buyback initiative.
What is the Fair Value of Nvidia Stock?
Overall, Wall Street has a consensus price target of $535.67 on NVDA stock, implying 13.69% upside potential, as indicated by the graphic above.
