Here is your Pro preview of the upcoming major earnings reports next week: Nvidia, Walmart, Palo Alto Networks, and Rivian Automotive.
Nvidia
In what has been deemed the market's greatest test yet this year, NVIDIA (NASDAQ:NVDA) will unveil Q4 earnings on Feb 21, after the market closes.
Analysts predict EPS of $4.63 and revenues of $20.52 billion. The company has surpassed earnings expectations for the past four quarters. Its stock price has increased by 46% since the start of the year, reaching a record high of $746 earlier this week.
On Friday, Loop Capital initiated coverage on Nvidia, assigning a Buy rating and setting a price target of $1,200, marking a new Street high. Despite the rise of new silicon providers, including private entities and major corporations like AMD (NASDAQ:AMD) and Intel (NASDAQ:INTC), and the anticipated introduction of Hyperscale specific internal silicon solutions in the coming years, the analyst believes Nvidia's biggest customers are expected to take “everything NVDA can give them in 2024 and 2025.”
Another Wall Street firm, Oppenheimer, increased its price target for Nvidia to $850.00 from $650.00 while maintaining an Outperform rating, in anticipation of another earnings outperformance.
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Walmart
Walmart (NYSE:WMT) is scheduled to release its Q4/24 earnings results on Feb 20, before the market opens. Wall Street analysts expect EPS of $1.65 and revenues of $169.3B.
Earlier this week, BofA Securities reiterated its Buy rating and $190.00 price target on Walmart, noting it sees 'potential F4Q sales upside'.
Meanwhile, Evercore ISI added Walmart to Its Tactical Underperform list,
We believe Walmart is likely to meet Street estimates for F4Q, but see potential near term downside of around mid single digits for the stock due to what we believe is likely to be conservative guide/tone on the consumer.
Our ProTips - exclusive to InvestingPro users - underline Walmart’s strength, highlighting that the company has raised its dividend for 28 consecutive years, 13 analysts have revised their earnings upwards for the upcoming period, the stock is trading at a low P/E ratio relative to near-term earnings growth, and it generally trades with low price volatility.