Analysts from Barclays, Bank of America, and Goldman Sachs have all expressed positive outlooks for Nvidia. Barclays rates Nvidia "Overweight" with a $600 price target, citing potential for substantial beats and raises over the next few quarters. Bank of America rates Nvidia at "Buy" with a $550 price target, highlighting its dominant position in transforming traditional global data centers to AI/accelerated compute. Goldman Sachs also rates Nvidia at "Buy" with a $495 price target, envisioning positive EPS revisions supporting sustained stock price outperformance through the rest of the year.
Key takeaways:
- Nvidia is set to release its second-quarter earnings report, with high expectations following its May revenue guidance which exceeded Wall Street estimates by $4 billion.
- The company's AI-focused business has seen a significant increase in demand, leading to a 200% increase in its stock price and a market valuation of $1.1 trillion.
- Wall Street expects solid second-quarter results from Nvidia, with an average EPS estimate of $2.07 and an average revenue estimate of $11.2 billion.
- Analysts from Barclays, Bank of America, and Goldman Sachs have all expressed positive outlooks for Nvidia, citing its dominant position in the AI semiconductor market and potential for continued growth.