NVIDIA Corp (NASDAQ:NVDA) is trading higher Thursday after the company announced better-than-expected second-quarter earnings and multiple analyst firms raised price targets on the stock.
NVIDIA reported adjusted quarterly earnings of $1.04 per share, which beat the estimate of $1.02 per share. The company reported quarterly revenue of $6.51 billion, which beat the estimate of $6.33 billion.
NVIDIA said it expects third-quarter revenue to be $6.8 billion, plus or minus 2%, versus the estimate of $6.53 billion.
“Enabled by the NVIDIA platform, developers are creating the most impactful technologies of our time – from natural language understanding and recommender systems, to autonomous vehicles and logistic centers, to digital biology and climate science, to metaverse worlds that obey the laws of physics," said Jensen Huang, founder and CEO of NVIDIA.
Analyst Assessment: Multiple analyst firms raised price targets on the stock following NVIDIA's financial results:
- Keybanc analyst John Vinh maintained NVIDIA with an Overweight rating and raised the price target from $238 to $245.
- Needham analyst Rajvindra Gill maintained NVIDIA with a Buy rating and raised the price target from $200 to $245.
- Barclays analyst Blayne Curtis maintained NVIDIA with an Overweight rating and raised the price target from $205 to $225.
- Mizuho analyst Vijay Rakesh maintained NVIDIA with a Buy rating and raised the price target from $225 to $235.
- Rosenblatt analyst Hans Mosesmann maintained NVIDIA with a Buy rating and raised the price target from $250 to $300.
- Credit Suisse analyst John Pitzer maintained NVIDIA with an Outperform rating and raised the price target from $175 to $225.
- Deutsche Bank analyst Ross Seymore maintained NVIDIA with a Hold rating and raised the price target from $150 to $185.
Price Action: NVIDIA has traded as high as $208.75 and as low as $115.66 over a 52-week period.
At last check Thursday, the stock was up 6.03% at $201.91.
Photo: courtesy of NVIDIA.
关注我们