What's Going On With Nvidia's Stock?

Zinger Key Points
  • Analysts remain bullish on Nvidia, with a consensus price target of $949.36 a share and a rating of “Buy” for the stock.
  • Nvidia is set to report its first-quarter financial results on May 22 after the market close.

NVIDIA Corporation NVDA shares are trading higher Monday, and the stock is trending on WallStreetBets. Here's a look at what to know.

The Details:

Qualcomm, Inc. QCOM reported strong earnings last Wednesday with earnings of $2.44 per share and revenue of $9.39 billion, both above Street expectations. Qualcomm's report indicated a strong market for the entire sector and pushed other semiconductor stocks higher. 

Analysts remain bullish on Nvidia, with a consensus price target of $949.36 a share and a rating of "Buy" for the stock, with the most recent ratings citing a potential upside of 31.5% from the current price. 

Nvidia is set to report its first-quarter financial results on May 22 after the market close. According to estimates from Benzinga Pro, analysts expect the company to report earnings of $5.55 per share and quarterly revenue of $22.103 billion. 

According to data from Benzinga Pro, shares are trading above the stock’s 50-day moving average of $865.07 and near its 52-week high of $974.00. 

Related News: What’s Going On With Coinbase Stock After Earnings? 

NVDA Price Action: According to Benzinga Pro, Nvidia shares are up 3.33% at $917.42 at the time of publication Monday.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsMoverssemiconductorswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...