Will NVIDIA (NVDA) Stock Rebound After Strong Earnings?

NEW YORK (TheStreet) --NVIDIA Corp. (NVDA) released its 2015 first quarter earnings results yesterday, reporting an increase in revenue to $1.103 billion from $954.7 million from the 2014 first quarter.

Earlier today the company's price target was increased to $17 from $15 at Barclays (BCS).

Yet, shares of NVIDIA Corp. are down -2.43% to $18.05 this afternoon.

The company, which creates graphic chips for using in personal computers, said GAAP-net income for the most recent quarter was $136.5 million, or 24 cents per diluted share, compared to $77.9 million from the same period the previous year.

The company forecasted revenue for the 2015 second quarter would be $1.1 billon, plus or minus 2%, which is in line with analyst estimates of $1.09 billion, Bloomberg reported.

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TheStreet Ratings team rates NVIDIA CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NVIDIA CORP (NVDA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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