NVIDIA Corporation NVDA was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $213.70–$246.85 in the past one-month time frame, witnessed a sharp increase on Friday.
The move came after the company reported better-than-expected fourth-quarter fiscal 2018 results.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for NVIDIA. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
NVIDIA currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
Another stock worth considering in the Semiconductor – General industry is Intel Corporation INTC which also carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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