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.
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.
