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Analysts Sentiment On Nvidia Ahead Of Q2 Earnings

Analysts Sentiment On Nvidia Ahead Of Q2 Earnings

With NVIDIA Corporation (NASDAQ: NVDA) due to release its second-quarter results Thursday after the close, investors are pondering whether the best performing stock of 2016 can continue its uncanny string of earnings beats.

If Wall Street sell-side sentiment is any indicator, the computer processor maker is expected to do just that.

According to TipRanks, out of 28 analysts that have updated their coverage in the past three months, 17 either initiated or reiterated a Buy rating (nine of the others held Hold ratings, with only two analysts recommending a Sell).

With the Q2 print approaching, here’s how the pros have updated their research within the past 30 days:

  • Summit Redstone Initiated at Buy with a $200 price target.
  • Canaccord Genuity’s analyst reiterated a Buy rating, with a price target of $180.
  • Bank of America Merrill Lynch reiterated a Buy rating about a week ahead of the report.
  • B. Riley reiterated Nvidia as a Buy, also setting a $200 target price.
  • Jefferies also reiterated the stock as a Buy, their price target at $180.
  • The contrarian call came from BMO Capital, with its analyst reiterating a Sell rating and an eyebrow-raising $85 price target (implying almost 50 percent downside from current levels).

The consensus estimates for Nvidia’s second quarter predict EPS of 70 cents on sales of $1.96 billion.

Shares of Nvidia traded lower by 3.75 percent at $165.65 midday Thursday.

Related Links:

Q2 Earnings: What's In Store For Nvidia Investors?

Nvidia Reports Q2 Earnings On Thursday After Market Close

Latest Ratings for NVDA

Jan 2020MaintainsBuy
Jan 2020MaintainsOverweight
Jan 2020ReiteratesBuy

View More Analyst Ratings for NVDA
View the Latest Analyst Ratings

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