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NVIDIA Shares Remain a Top Buy

By:
Lucas Downey
Published: Apr 19, 2024, 15:55 GMT+00:00

NVIDIA Corporation (NVDA) has been loved by investors for a while now, with shares up 71% in 2024 so far. Big Money investors keep pushing the semiconductor company’s stock higher.

Nvidia Chip, FX Empire

In this article:

NVIDIA Stock Surge Reflects Strong Demand

Institutional volumes reveal plenty. In the last year, NVDA has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in NVDA shares. They reflect our proprietary inflow signal, pushing the stock higher:

Source: www.mapsignals.com

Plenty of technology names are under accumulation right now. But there’s a powerful fundamental backdrop going on with NVIDIA.

NVIDIA Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, NVDA has had explosive sales and EPS growth in recent years:

  • 3-year sales growth rate (+62.5%)
  • 3-year EPS growth rate (+217.9%)

Source: FactSet

EPS is estimated to ramp higher this year by +20.9%.

Now it makes sense why the stock has been powering to new heights. NVDA is an earnings juggernaut.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

NVIDIA has been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report multiple times over the years. The blue bars below show when NVDA was a top pick…rising high along the way:

Source: www.mapsignals.com

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the titans. Big Money demand drives stocks upward.

NVIDIA Price Prediction

The NVDA rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in NVDA at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.

About the Author

Lucas Downeycontributor

Lucas is a well-versed equity investor and educator. He currently is co-founder of research and analytics firm, MAPsignals.com, which focuses on finding outlier stocks by following the Big Money.

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