(SOXX), which tracks the performance of the ICE Semiconductor Index. Nvidia’s stock has declined by about 40% this year, versus the 25% drop in the “We believe it remains unclear as to how NVDA’s Data Center revenue will grow through the intermediate term,” he wrote. He cited the uncertainty surrounding its enterprise and cloud-computing business. Wedbush analyst Matt Bryson reiterated his Neutral rating for the chip maker and reduced his price target to $160 from $190. Rasgon lowered his fiscal 2023 earnings estimate for Nvidia to $3.39 a share from $3.64.īut not everyone on Wall Street is as positive. “Investors looking for a de-risked profile have much to grab onto.” And it was, much lower than the (still somewhat noisy) revised consensus expectations,” he wrote. “Investors likely suspected FQ3 had the potential to be somewhat ugly. Analyst Stacy Rasgon reaffirmed his Outperform rating and $210 stock price target. In a separate note, Bernstein was similarly optimistic over Nvidia’s longer-term opportunities after the recent string of bad news.
Nvidia shares rose 1.5% to $174.79 in early trading Thursday. NVIDIA (NASDAQ:NVDA) pays an annual dividend of 0.16 per share and currently has a dividend yield of 0.14. “With this print and outlook likely being the low-water mark for this year’s results, we recommend investors use any significant share price weakness as an opportunity to build positions.” Given the current short-term trend, the stock is expected to fall -31.17 during the next 3 months and, with a 90 probability hold a price between 58.86 and. “We believe NVDA’s report and outlook was about as bad as expected following its pre-announcement,” he wrote. Benchmark analyst Cody Acree lowered his target for the stock’s price to $215 from $228, but reiterated his Buy Rating for the stock.
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