5 Nvidia Analysts Size Up Q3 Results, Forward Guidance: 'Increased Conviction,' Minimal Concern Over China
Portfolio Pulse from Chris Katje
NVIDIA Corporation (NASDAQ:NVDA) has seen its shares rise significantly in 2023, driven by growing interest in AI. Analysts from Goldman Sachs, Piper Sandler, Morgan Stanley, Oppenheimer, and Needham have reacted positively to NVIDIA's Q3 earnings and forward guidance, with increased price targets and ratings ranging from Buy to Overweight. The Data Center segment's strong performance and the company's position in AI were key highlights, despite concerns about China's restrictions. NVDA shares were down 2.1% post-earnings.
November 22, 2023 | 6:15 pm
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POSITIVE IMPACT
Analysts are optimistic about NVIDIA's Q3 results and AI growth, with price targets increased despite China concerns. Shares dipped slightly post-earnings.
The positive analyst ratings and raised price targets suggest confidence in NVIDIA's future growth, particularly in AI and the Data Center segment. The slight dip in share price post-earnings may offer a buying opportunity, as the overall sentiment remains bullish.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100