Nvidia (NVDA) closed the most recent trading day at $522.04, moving +1.03% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.98%. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.5%.Wall Street will be looking for positivity from NVDA as it approaches its next earnings report date. The company is expected to report EPS of $2.80, up 48.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.83 billion, up 55.41% from the year-ago period.NVDA's full-year Zacks Consensus Estimates are calling for earnings of $9.72 per share and revenue of $16.49 billion. These results would represent year-over-year changes of +67.88% and +51.08%, respectively.It is also important to note the recent changes to analyst estimates for NVDA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% higher. NVDA is currently a Zacks Rank #3 (Hold).Digging into valuation, NVDA currently has a Forward P/E ratio of 55.31. This represents a premium compared to its industry's average Forward P/E of 26.22.We can also see that NVDA currently has a PEG ratio of 3.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - General industry currently had an average PEG ratio of 3.05 as of yesterday's close.The Semiconductor - General industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 129, putting it in the top 50% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report To read this article on Zacks.com click here.