Building a successful investment portfolio requires skill, research, and a bit of luck, whether you are a growth, value, income, or momentum-focused investor. One stock that may be worth considering for your portfolio is Nvidia (NVDA), which was recently upgraded to the Zacks Rank #1 list on May 30, 2024. The Zacks Rank is a stock-rating model that helps investors take advantage of earnings estimate revision trends and identifies stocks highly sought after by institutional investors.
Nvidia is a global leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. The company’s focus has shifted from PC graphics to artificial intelligence (AI) solutions that support high-performance computing (HPC), gaming, and virtual reality (VR) platforms. Analysts have revised their earnings estimates upwards for Nvidia, with the Zacks Consensus Estimate increasing to $25.10 per share for fiscal year 2025. The company has an average earnings surprise of 18.4%.
Earnings for Nvidia are expected to grow by 93.7% for the current fiscal year, with revenue forecasted to rise by 91.1%. The stock has also shown strong market momentum, with a 38.3% increase over the past four weeks compared to the S&P 500’s gain of 3.2%. With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Nvidia could be a stock worth considering for your portfolio to help you achieve your financial goals.
If you’re looking for more investment recommendations from Zacks Investment Research
