Nvidia Analysts Say Pullback Is Buying Opportunity: ‘Pushing AI Envelope Too Significant To Slow Down’
Nvidia Corp. (NASDAQ:NVDA) outperformed expectations, with impressive second-quarter earnings that beat forecasts.
The AI computing giant credited its soaring revenue to robust data center performance, although its gross margin showed a slight contraction from the previous quarter.
Nvidia also issued an above-consensus revenue forecast for the third quarter and announced a massive $50-billion stock repurchase authorization.
Despite these strong results, Nvidia’s shares fell 3.6% in after-hours trading. Here’s how top Wall Street analysts are reacting to Nvidia’s latest performance:
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JPMorgan: Analyst Harlan Sur rates Nvidia stock as Overweight with a price target of $155, up from $115.
“We expect solid demand in PC gaming to be a strong revenue driver for the company,” Sur wrote. He remains positive about Nvidia’s growth prospects in data centers and automotive segments, expecting continued strength in these areas.
Goldman Sachs: Analyst Toshiya Hari has a Neutral rating on Nvidia stock with a price target of $135.
Hari acknowledged Nvidia’s efforts to address Blackwell’s challenges, stating, “Management confirmed that they had executed a re-design without any compromise on …
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