NVIDIA Corporation's non-GAAP adjusted gross profit margin was flat QoQ at 67.0% in Q4 FY 2022, and the company had guided for its non-GAAP gross profit margin to be in the 66.5% to 67.5% range for Q1 FY 2023. A FebruSeeking Alpha News article had highlighted that "semiconductor stocks largely sold off" on Februdue to "worries over escalating tensions between Russia and Ukraine." This is one of the factors contributing to NVIDIA Corporation's share price weakness post-results announcement.Īnother key factor is that the recent quarterly results revealed some weak spots for NVDA as evidenced by certain key metrics. Notwithstanding above-expectations financial results, NVDA's stock price subsequently decreased by -8% from $265.11 as of Februto $245.07 at the close of the Februtrading day. NVIDIA Corporation's non-GAAP adjusted earnings per share surged by +69% YoY to $1.32, which was +8% higher than what Wall Street had anticipated previously. The company's revenue jumped by +53% YoY to $7,643 million in the fourth quarter of the prior fiscal year and exceeded the sell-side's consensus sales estimate by +3%. NVIDIA Corporation issued the company's Q4 FY 2022 results press release on Februafter the market closed. As such, it is important to evaluate the company's key metrics in greater detail. NVDA's shares didn't perform well post-results announcement, despite delivering better-than-expected revenue and earnings for Q4 FY 2022. Despite a decent medium term growth outlook, NVDA stays as a Hold, as I deem its forward FY 2024 P/E multiple of 41.6 times to be fair. This looks to be achievable, as NVDA's forecasted FY 2027 (YE January) revenue will still be only less than 7% of the company's Total Addressable Market or TAM. In five years' time, NVIDIA Corporation's top line could expand to close to $70 billion based on sell-side consensus estimates implying a CAGR of +21%. My previous Decemarticle focused on NVDA's 2022 outlook this latest update discusses NVIDIA Corporation's five-year outlook in view of the company's recently concluded Investor Day 2022. I rate NVIDIA Corporation's ( NASDAQ: NVDA) shares as a Hold. Justin Sullivan/Getty Images News Elevator Pitch
0 kommentar(er)
