Does the Latest Nvidia Analyst Forecast Influence Your Investment Strategy?
Portfolio Pulse from Anusuya Lahiri
Susquehanna analyst Christopher Rolland reiterated a Positive rating on Nvidia Corp (NVDA) with a price target of $850, up from $625, ahead of its earnings report on February 21. Rolland expects strong results and guidance, particularly from Data Center GPUs, with solid demand from AI, supported by Meta Platforms Inc (META) and Tesla Inc (TSLA). He also anticipates in-line to slightly better Gaming segment performance, citing data from Advanced Micro Devices, Inc (AMD). However, he flagged concerns over weaker Chinese EV demand impacting Nvidia's Auto segment. Rolland's revenue expectations for Nvidia are $21.5 billion for the fourth quarter, $23 billion for the first quarter, and $99 billion for fiscal 2025.
February 14, 2024 | 8:16 pm
News sentiment analysis
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NEUTRAL IMPACT
Advanced Micro Devices, Inc's solid Radeon GPU cards performance and Nvidia's modest GPU share gains suggest a competitive but healthy market for Nvidia.
While AMD's performance indicates a competitive landscape, Nvidia's share gains suggest it remains a strong player. The impact on NVDA's stock is likely neutral short term as market competition is expected.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Meta Platforms Inc's recent commentary suggesting continued vital GPU purchases supports the positive outlook for Nvidia's Data Center GPU demand.
Meta's commentary indirectly benefits Nvidia by highlighting strong demand for GPUs, which could positively influence Nvidia's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Susquehanna analyst Christopher Rolland has raised the price target for Nvidia to $850 from $625, expecting strong earnings driven by Data Center GPUs and gaming, despite concerns in the Auto segment.
The raised price target and positive outlook from a reputable analyst, especially ahead of earnings, typically generate positive investor sentiment, likely driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Tesla Inc's commentary on GPU purchases supports the strong demand outlook for Nvidia's Data Center GPUs.
Tesla's support for Nvidia's GPUs, especially in AI applications, underscores the robust demand for Nvidia's products, potentially boosting NVDA's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60