Nvidia STOCK -“Nvidia Soars on Wall Street: Price-Target Hikes and Strong Q1 Earnings Fuel Optimism”

NVIDIA
NVIDIA

Nvidia Receives Price-Target Hikes Following Strong Q1 Earnings

NVIDIA stock falls around 120$ on Monday before the market open on June 10.NVIDIA Stock will commence on split adjusted basis at Market. This will increase in number of Shares of the company without any change in the Shareholder equity. It is found that NVIDIA is increasing its quarterly cash dividend by 150%

 

Nvidia Price Target Hikes:

 

– Following Nvidia’s stellar first-quarter earnings report, three Wall Street firms have increased their price targets on Nvidia stock.
– Argus Research raised its price target to $150 from $110, maintaining a buy rating.
– Oppenheimer also raised its target to $150 from $110, with an outperform rating.
– Evercore ISI increased its target to $145 from $131, reiterating an outperform rating.

Stock Performance:

– Nvidia stock experienced a slight dip of 0.7% to close at $120.91 after a previous session’s 0.8% increase to $121.78.
– The stock broke out of a 10-week consolidation pattern on May 23, reaching a split-adjusted buy point of $97.40, according to IBD MarketSurge charts.
– Despite being in the 20%-to-25% profit-taking zone, Nvidia is subject to the eight-week hold rule per IBD trading guidelines.

Analyst Insights:

– Argus analyst Jim Kelleher emphasized Nvidia’s continued momentum and stated that its shares have significant growth potential.
– Oppenheimer’s Rick Schafer highlighted Nvidia’s strong product roadmap in graphics processing units and networking products, positioning the company as a leader in AI with comprehensive hardware, networking, and software solutions.

Future Growth Potential:

– Nvidia is expected to benefit from growth in AI and data center markets, alongside acceleration in gaming, professional visualization, and automotive markets.

Overall, Nvidia’s strong performance, supported by its first-quarter earnings and positive analyst outlook, suggests promising growth prospects in various market segments.

READ MORE HERE…

ALSO READ:

Crux DSW: A Premium Aluminum Gravel Bike

Leave a Reply

Your email address will not be published. Required fields are marked *