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NVIDIA (NASDAQ:NVDA) stocks have arose more than 200% in 2023, after a painful 2022 as stocks fell almost 50%. However, there are some concerns about the semiconductor giant's valuation and growth, especially as generative artificial intelligence looks set to revolutionize almost every industry.
2023 Stock performance
Nvidia Stock Has rose 229% in 2023 and reached a 52-week high of $505.48 in late November. Over the past six months, even amid concerns about China's export controls, stocks have won more than 19%.
However, over a five-year period, Nvidia (NVDA) stock has completely outperformed the broader averages, gaining more than 1,180%not including dividends.
What quantitative measures say
Nvidia (NVDA) receives a Hold rating from Seeking Alpha's Quant Rating system. This is largely due to the F rating rating, the same as three months ago. The stock receives an A+ for growth, up from the A it received three months ago.
Nvidia also receives an A+ for profitability and momentum and an A- for reviews.
What Wall Street says
Sell-side analysts have a lot of praise for Nvidia (NVDA). Of the 53 analysts surveyed by Seeking Alpha in the last 90 days, 37 of them have a Strong Buy rating and 13 have a Buy rating, while 3 have a Hold rating. That means a whopping 94% of analysts are positive about the stock and the company's future.
Searching Alpha author Valuentum said Nvidia's latest earnings report shows there is more upside to come.
“We were wrong on Nvidia stock in November 2022, but we are now constructive on the stock given the rise of ai, which is driving the large delta in our fair value estimate change,” Valuentum wrote in a recent report.
Latest earnings
In its most recent earnings report, Nvidia (NVDA) reported third-quarter results that beat expectations. It earned $4.02 per share on $181.2 billion in revenue, as data center revenue came in at $14.51 billion and beat expectations of $12.82 billion.
Earnings predictions
Meanwhile, analysts expect the company to earn $4.50 per share on revenue of about $20.03. In the same period in 2022, Nvidia earned an adjusted 88 cents per share on $6.05 billion in revenue.
