Nvidia (NVDA – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Christopher Rolland from Susquehanna reiterated a Buy rating on the stock and has a $180.00 price target.
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Christopher Rolland has given his Buy rating due to a combination of factors that highlight Nvidia’s strong performance and promising outlook. Despite facing significant challenges from the H20 revenue impact, Nvidia managed to deliver better-than-expected results and guidance. The company experienced robust growth in its data center segment, driven by strong NVLink adoption and increased demand from major customers like Google Cloud and Meta. Additionally, Nvidia’s gaming segment exceeded expectations, with a strong ramp-up of Blackwell gaming GPUs and easing supply constraints.
Furthermore, Nvidia’s networking division performed well, with Spectrum-X annualizing over $8 billion in revenue. Although the company faced a $4.5 billion charge related to H20 excess inventory, it was able to mitigate the impact by reusing materials, resulting in gross margins that aligned with prior estimates. Overall, the positive momentum in Nvidia’s data center and gaming segments, along with its strategic partnerships and product launches, contribute to a favorable AI demand backdrop, supporting the Buy rating.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $190.00 price target.
Based on the recent corporate insider activity of 121 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.