DBS analyst Fang Boon Foo has maintained their bullish stance on NVDA stock, giving a Buy rating on March 11.
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Fang Boon Foo has given his Buy rating due to a combination of factors including Nvidia’s strong position in the AI-chip market and its consistent revenue growth. Nvidia’s GPUs are at the forefront of technology, particularly in data centers, supporting advanced computing needs in AI, machine learning, and scientific computing. The company’s commitment to innovation is evident in its annual upgrades to AI accelerators, with the upcoming Blackwell chips set to replace the current Hopper generation.
Nvidia’s management has demonstrated confidence in sustained demand for its products, as reflected in their guidance for continued revenue growth. Despite some risks such as narrowing gross margins and geopolitical factors, Nvidia’s strong fundamentals, including a solid net cash position and diverse revenue streams, underpin its growth potential. The company’s ability to maintain high margins compared to its peers further supports the positive outlook, justifying the Buy rating despite a slightly reduced target price.
In another report released on March 11, Bernstein also maintained a Buy rating on the stock with a $185.00 price target.
Based on the recent corporate insider activity of 126 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.