{"id":1658,"date":"2023-02-24T17:50:27","date_gmt":"2023-02-24T17:50:27","guid":{"rendered":"https:\/\/tradersontrend.com\/?p=1658"},"modified":"2023-02-24T17:50:27","modified_gmt":"2023-02-24T17:50:27","slug":"nvidias-stock-continues-to-shine-with-upbeat-results-and-positive-analyst-outlooks","status":"publish","type":"post","link":"https:\/\/tradersontrend.com\/h\/2023\/02\/24\/nvidias-stock-continues-to-shine-with-upbeat-results-and-positive-analyst-outlooks\/","title":{"rendered":"Nvidia&#8217;s Stock Continues to Shine with Upbeat Results and Positive Analyst Outlooks"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1658\" class=\"elementor elementor-1658\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-57ca63f6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"57ca63f6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-42bd40f5\" data-id=\"42bd40f5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-24ff4ac4 elementor-widget elementor-widget-text-editor\" data-id=\"24ff4ac4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 26-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Nvidia Corp.&#8217;s stock has been a major outperformer recently, and the company&#8217;s latest results signal that the run-up is not over, according to some experts.<\/p><p>Nvidia shares are up 59% this year, while the S&amp;P 500 is up approximately 4%, and the <a href=\"https:\/\/www.google.com\/finance\/quote\/SOX:INDEXNASDAQ\">PHLX Semiconductor Index<\/a> is up 16%.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Goldman Analyst Positive<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">&#8220;<\/span><em style=\"font-family: inherit;\">In retrospect, we accept that our choice to remain on the sidelines in anticipation of a decline in the company&#8217;s fundamentals was incorrect,<\/em><span style=\"font-family: inherit;\">&#8221; Goldman Sachs analyst Toshiya Hari said Thursday as he raised Nvidia&#8217;s shares from neutral to buy.<\/span><\/p><p>&#8220;<em>The combination of positive estimate revisions and a probable expansion in the company&#8217;s multiple \u2014 comparable with previous recovery periods \u2014 will drive ongoing outperformance in the stock,<\/em>&#8221; he added.<\/p><p>Hari is becoming increasingly optimistic about <a href=\"https:\/\/www.nvidia.com\/en-us\/glossary\/data-science\/artificial-intelligence\/\">Nvidia&#8217;s opportunity in artificial intelligence<\/a>, which was a prominent topic of discussion on Wednesday&#8217;s earnings call.<\/p><p>&#8220;<em>With the recent emergence and likely proliferation of generative AI, we anticipate quickening the rate of Nvidia&#8217;s wallet-share rise within the context of overall cloud [capital expenditures] in the short to medium term,<\/em>&#8221; Hari wrote.<\/p><p>Stacy Rasgon of Bernstein predicts more upside for Nvidia shares. &#8220;<em>Given the stock&#8217;s run, we believe many were worried going into the print, but the results seem to reinforce the set-up from here, which is strong at this stage,<\/em>&#8221; Rasgon wrote. <br \/><br \/>&#8220;<em>Tactically, investors can now buy the company at the commencement of a datacenter ramp, with a strong (and roughly normalized) gaming trajectory,<\/em>&#8221; according to the results.<\/p><p>Rasgon also mentioned that &#8220;<em>additional pieces are now beginning to surface that can allow longer-term investors to dream the dream,<\/em>&#8221; such as changes in AI software and <a href=\"https:\/\/nvidianews.nvidia.com\/news\/mercedes-benz-and-nvidia-to-build-software-defined-computing-architecture-for-automated-driving-across-future-fleet\">Mercedes automobile software<\/a>.<\/p><p>He upgraded Nvidia&#8217;s stock to outperform and raised his price objective from $200 to $265.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">UBS Analysts Upbeat<br \/><br \/><\/span><\/strong><span style=\"font-family: inherit;\">Timothy Arcuri, an analyst at UBS, was similarly positive.<\/span><\/p><p>According to Arcuri, UBS has &#8220;<em>always argued that <a href=\"https:\/\/www.google.com\/finance\/quote\/NVDA:NASDAQ\">NVDA<\/a> is a product-cycle stock,<\/em>&#8221; and the business is currently &#8220;<em>on the threshold of what might be the strongest new-product cycles and [total addressable market] expansion in the company&#8217;s history.<\/em>&#8220;<\/p><p>He acknowledged the existence of &#8220;<em>other derivative ways to play AI,<\/em>&#8221; but said that none of them compare to Nvidia. <br \/><br \/>UBS maintains its buy rating on the company and maintains its $270 share price target.<\/p><p>According to FactSet, 30 of the 45 analysts that cover Nvidia&#8217;s stock have buy ratings, 13 have hold ratings, and two have sell ratings. <br \/><br \/>The average price target for a share is $238.09.<\/p><p>Despite seeing &#8220;<em>a lot to like<\/em>&#8221; in the latest Nvidia figures, Wedbush analyst Matt Bryson maintained his neutral rating.<\/p><p>&#8220;<em>We remain quite enthusiastic about the company&#8217;s longer-term opportunities and [its] posture in its key markets, but are somewhat apprehensive of the high valuation,<\/em>&#8221; he wrote.<\/p><p><i>For More Stocks And Investment Related News, Click\u00a0<a href=\"https:\/\/tradersontrend.com\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tradersontrend.com\/&amp;source=gmail&amp;ust=1677323597403000&amp;usg=AOvVaw101BJ48E_Aw8NAdO94PFyS\">Here<\/a>.<\/i><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Nvidia Corp.&#8217;s stock has been a major outperformer recently, and the company&#8217;s latest results signal that the run-up is not over, according to some experts. Nvidia shares are up 59% this year, while the S&amp;P 500 is up approximately 4%, and the PHLX Semiconductor Index is up 16%. Goldman Analyst Positive &#8220;In retrospect, we accept&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,431,432,530],"class_list":["post-1658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-ai","tag-nvda","tag-nvidia","tag-semicon"],"_links":{"self":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/comments?post=1658"}],"version-history":[{"count":0,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media\/1659"}],"wp:attachment":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media?parent=1658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/categories?post=1658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/tags?post=1658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}