Nvidia (NVDA) closed the most recent trading day at $136.93, moving +0.89% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.02% for the day. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.

Shares of the maker of graphics chips for gaming and artificial intelligence have appreciated by 19.71% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.44% and the S&P 500's gain of 3.77%.

Analysts and investors alike will be keeping a close eye on the performance of Nvidia in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.74, signifying an 85% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $32.74 billion, indicating an 80.69% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.81 per share and revenue of $124.66 billion, which would represent changes of +116.15% and +104.63%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Nvidia. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.51% higher. As of now, Nvidia holds a Zacks Rank of #2 (Buy).

Looking at its valuation, Nvidia is holding a Forward P/E ratio of 48.22. This expresses a premium compared to the average Forward P/E of 24.43 of its industry.

It is also worth noting that NVDA currently has a PEG ratio of 1.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. NVDA's industry had an average PEG ratio of 3.86 as of yesterday's close.

The Semiconductor - General industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.