Earnings Previews: 3D Systems, Nvidia, Best Buy, Li Auto, Moderna, Plug Power

The consensus price target on Nvidia stock is $605.20, and shares currently trade at around $550.20, implying a potential upside of around 9%. At the high price target of $700, the implied gain is 27%. Susquehanna, BMO and Deutsche Bank all raised their price targets Tuesday, with Susquehanna posting a $700 target, along with a Positive rating. Of 38 analyst ratings on the stock, all but two are Hold or better with 21 being Buy or Strong Buy.

Analysts expect EPS of $2.81 on sales of $4.8 billion, an improvement of nearly 50% in earnings and 55% in sales. For the year, Nvidia is expected to post EPS of $9.73 (up nearly $4, or 69%, year over year) and revenue of $16.5 billion, up 51%.

Nvidia shares currently trade at about 57 times expected 2020 EPS, 47 times expected 2021 earnings and 40 times expected 2022 EPS.

Best Buy

Before markets open Thursday morning, Best Buy Co. Inc. (NYSE: BBY) is expected to report. Shares added nearly 17% last year, but the holiday season took a lot of air out of the stock, which had traded up as much as 43% in early November. For the year to date, shares are up about 14%, after last week giving back a third of its year-to-date gain.

Working and going to school from home pushed Best Buy’s sales higher and, analysts believe, profits were higher as well. The outlook for the stock depends on whether you expect the good times to last. Best Buy’s fourth quarter and fiscal year 2021 ended on January 31.

Analysts are looking for quarterly EPS of $3.42, up 17% year over year on a sales boost of nearly 13% to $17.2 billion. For the fiscal year, EPS is tabbed at $7.85, up about 30% year over year, and sales are expected to increase by nearly 9% to $47.5 billion.

The consensus price target on the stock is $123.02. At a current price of around $114.30, the implied upside on the stock is about 8.6%. At the high price target of $150, the potential gain is around 22%. Shares are trading at a multiple of nearly 15 times expected 2021 and 2022 EPS.

Li Auto

Li Auto Inc. (NASDAQ: LI) is one of a handful of electric vehicle makers that absolutely blistered the markets last year. Since its July IPO, Li Auto posted a share price gain of 75% in 2020, and they stock traded up more than 160% at one point. For the year to date, shares traded down about 11% in the noon hour Tuesday.

Analysts expect the company to post a loss per share of $0.04 on sales of $564.8 million in the fourth quarter. For the full 2020 fiscal year, analysts are projecting a net loss per share of $0.14 on sales of $1.4 billion. The China-based carmaker is expected to lose $0.02 per share in 2022 on sales of almost $3 billion.