Shares of chip maker Nvidia (NASDAQ:NVDA) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2024. Earnings per share came in at $5.16, which beat analysts’ consensus estimate of $4.59 per share.
Sales increased by 265.3% year-over-year, with revenue hitting $22.1 billion. This beat analysts’ expectations by $1.55 billion.
Looking forward, management now expects revenue for Q1 2025 to come in at $24 billion (+/- 2%). For reference, analysts were expecting $22.03 billion in revenue.
What Is a Good Price for NVDA?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 36 Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 225% rally in its share price over the past year, the average NVDA price target of $771.73 per share implies 14.38% upside potential. However, it’s worth noting that estimates will likely change following today’s earnings report.
