Investors eagerly await chip giant Nvidia’s (NVDA) fiscal first-quarter results on May 20. NVDA stock has risen 22% year-to-date. Despite concerns about growing competition in the AI chips space, Wall Street remains bullish on Nvidia. In fact, several analysts have raised their price targets for NVDA stock ahead of Q1 earnings and remain confident in the company’s growth potential, supported by robust demand for AI GPUs (graphics processing units), continued innovation, and strong execution.
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Trade NVDA with leverageInterestingly, on Thursday, NVDA stock jumped about 4.4% after Reuters reported that the U.S. Commerce Department approved about 10 Chinese companies to purchase Nvidia’s H200 chips.
What to Expect from NVDA’s Q1 Earnings
Wall Street expects Nvidia to report EPS (earnings per share) of $1.75, reflecting 116% year-over-year growth. Revenue is estimated to rise 79% to $78.82 billion.
Investors will look forward to management’s commentary on the demand backdrop to understand if the company can sustain its impressive growth rates amid rising competition.
Nvidia’s Ownership Structure
Now, according to TipRanks’ Ownership Tool, public companies and individual investors own 43.55% of NVDA. They are followed by exchange-traded funds (ETFs), mutual funds, other institutional investors, and insiders at 22.54%, 19.95%, 10.25%, and 3.71%, respectively.
Looking closely at the top shareholders, Vanguard owns the highest stake in Nvidia at 8%, followed by Vanguard Index Funds with a 6.61% holding.
Among the top ETF holders, Vanguard Total Stock Market ETF (VTI) owns a 3.02% stake in NVDA, while Vanguard S&P 500 ETF (VOO) holds 2.55%. Also, iShares Core S&P 500 ETF (IVV) owns a 1.30% stake.
Moving to mutual funds, Vanguard Index Funds holds 6.61% of Nvidia. Meanwhile, Fidelity Concord Street Trust owns 1.77%.
Is NVDA a Good Stock to Buy Right Now?
Heading into Q1 earnings, Wall Street has a Strong Buy consensus rating on Nvidia stock based on 40 Buys, one Hold, and one Sell. The average NVDA stock price target of $280.31 indicates 24.4% upside potential.
