Nvidia Corp. (NASDAQ: NVDA) is scheduled to release its fiscal second-quarter financial results after the markets close on Thursday. The consensus estimates are $1.66 in earnings per share (EPS) and $3.1 billion in revenue. In the same period of last year, the company said it had $0.92 in EPS and $2.23 billion in revenue.
This past quarter, the firm announced that it would be joining forces with Daimler and Bosch to bring fully automated and driverless vehicles to city streets. This collaboration promises to unleash what auto industry insiders call Level 4 and Level 5 autonomy—cars that can drive themselves.
Ultimately these companies want to deploy self-driving taxis in California’s Silicon Valley region next year as part of a test program of vehicles designed for city driving.
Executives from the companies would not comment on the potential size or scope of the pilot program. What is known is that California would be the first pilot site, and there could be others that follow.
Under the terms of this deal, Daimler would supply the vehicles and test facilities, while Bosch will provide the many sensors, actuators and control units used in the development process.
Overall, Nvidia has outperformed the broad markets, with its stock up about 55% in the past 52 weeks. In just 2018 alone, the stock is up 34%.
A few analysts weighed in on Nvidia ahead of the report:
- Wells Fargo has an Outperform rating and a $315 price target.
- Goldman Sachs has a Buy rating with a $324 price target.
- FBN Securities has an Outperform rating with a $300 target.
- Benchmark has a Buy rating with a $280 target price.
- Cowen has an Outperform rating and a $325 price target.
- Needham has a Buy rating with a $325 price target.
Shares of Nvidia were last seen at $257.61, with a consensus analyst price target of $295.67 and a 52-week trading range of $157.37 to $269.20.