On the other hand, 2 analysts had recommended selling the stock. The same media also reported that 15 out of 32 surveyed investment analysts had rated NVIDIA Corporation’s stock as “Buy”, while 13 – as “Hold”. The median estimate is a 4.75% surge compared to the closing price of $255.36 on May 14th. However, the growth record of Nvidias revenue, earnings and data center total addressable market may justify such a valuation, he explained.Īccording to CNN Money, the 28 analysts, offering 12-month forecasts regarding NVIDIA Corporation’s stock price, have a median target of $267.50, with a high estimate of $305.00 and a low estimate of $100.00. Needhams Gill also noted that Nvidias valuation still remained high in comparison with its semi group peers. Needham also revised up its full-year 2019 earnings forecast to $7.80 per share, while the firms earnings estimate for 2020 was raised to $8.65 per share. The latter has been a third straight month of losses.įor the entire past year, the shares of NVIDIA Corp rose 81.28%, following another 223.85% surge in 2016.Īccording to Needham analyst Rajvindra Gill, pricing and demand for Nvidias graphics processing units have improved during the first quarter amid a tight supply environment. The stock has extended its advance to 13.54% so far during the current month, following a 2.89% slump in April. It has also been the best performance since the week ended on April 15th. In the week ended on May 13th the shares of the PC tech company added 6.47% to their market value compared to a week ago, which marked a second consecutive period of gains. The stock went up 0.33% ($0.83) to $255.36, with the intraday high and the intraday low being at $258.49 and $254.40 respectively. NVIDIA shares closed higher for the seventh time in the past eight trading sessions on Monday. The asset management firm also maintained a “Buy” rating on the stock. Needham & Company revised up its price target for NVIDIA Corporation (NVDA) to $325 from $300 previously, as it cited the companys latest stronger-than-anticipated earnings that were driven by a 70% surge in data center revenue.
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