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NVIDIA Corporation (NASDAQ:NVDA) traders are expecting some major volatility from the stock this week with the company expected to report Q1 earnings after the market close on Tuesday. In fact, three of Nvidia’s last six earnings reports have generated one-day gains of at least 13 percent.
However, market reactions in the semiconductor space have been skewed to the downside so far this earnings season.
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“The majority of semi stocks have faced pressure after they reported, for various unrelated reasons,” Bank of America analyst Vivek Arya said earlier this week.
Related Link: Sentiment Remains Soft On Nvidia
Traders are now looking to Wall Street for ideas about what to do with Nvidia on Tuesday ahead of earnings. Bank of America says Nvidia is well-positioned for long-term growth that could push shares higher to the $150-$175 range by 2020.
Here’s a look at some other recent analyst ratings of Nvidia:
- Cannacord Genuity: Buy rating,$125 target (5/17)
- Pacific Crest: Underweight rating, $90 target (4/17)
- UBS: Buy rating, $132 target, (4/7)
- Citi: Buy rating, $145 target (4/5)
- Macquarie: Neutral rating, $110 target (3/31)
- Global Equities Research: Overweight rating, $125 target (3/20)
- BMO Capital: Underperform rating, $85 target (3/7)
- Instinet: Reduce rating (2/23)
- Nomura: Reduce rating, $90 target (2/22)
- RBC Capital Markets: Outperform rating, $130 target (2/10)
- Mizuho: Buy rating, $130 target (2/10)
- ROTH Capital: Neutral rating (2/6)
- CLSA: Underperform rating, $115 target (2/3)
According to CNN Money, 38 analysts currently have ratings on Nvidia. The stock has a total of 20 Buy/Outperform ratings and only 5 Sell/Underperform ratings. In addition, its average analyst price target of $120 represents more than 14 percent upside from current levels.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.