AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Nvda price outlook9/7/2023 ![]() ![]() ![]() “Investors likely suspected FQ3 had the potential to be somewhat ugly. Analyst Stacy Rasgon reaffirmed his Outperform rating and $210 stock price target. In a separate note, Bernstein was similarly optimistic over Nvidia’s longer-term opportunities after the recent string of bad news. Nvidia shares rose 1.5% to $174.79 in early trading Thursday. “With this print and outlook likely being the low-water mark for this year’s results, we recommend investors use any significant share price weakness as an opportunity to build positions.” “We believe NVDA’s report and outlook was about as bad as expected following its pre-announcement,” he wrote. “While another guide-down will be unwelcome … this ‘second cut’ could clear the decks ahead of the upcoming new 5nm gaming (Lovelace) and data center (Hopper, Grace) pipeline.Benchmark analyst Cody Acree lowered his target for the stock’s price to $215 from $228, but reiterated his Buy Rating for the stock. ![]() On top of all that, BofA Global Research analyst Vivek Arya is preparing for Nvidia to cut its forward guidance in its upcoming quarterly press release. Specifically, they’re bracing for Nvidia to post earnings of 59 cents per share, indicating a year-over-year (YOY) decline of 43.3%. In the updated quarterly pre-announcement, however, the company stated its second-quarter revenue is expected to reach only $6.7 billion.įurthermore, analysts on Wall Street aren’t expecting much from Nvidia. ![]() Previously, Nvidia had indicated that revenue for Q2 would be $8.1 billion. Nvidia and a BofA Analyst Aren’t Optimistic 8, Financial Times reported that Nvidia “cut its financial guidance for the three months to July, warning that weaker gaming revenue would hit earnings.” This isn’t shown on Nvidia’s news page, but that’s understandable. Heck, even the company itself is somewhat pessimistic. Nvidia shares already traded at that price, and if the general sense of pessimism is wrong, a revisit of $300 isn’t out of the question at all. The stockholders really need to see some share-price movement, and I picked $300 as a realistic target. Besides, the share price sank from $300 at the beginning of 2022 to less than $200 in recent weeks. Sure, Nvidia pays a dividend, but it’s only 0.09% per year. Nvidia’s quarterly release will be high-stakes because NVDA stock holders could really use a boost now. ![]()
0 Comments
Read More
Leave a Reply. |