Nvidia Earnings & Analyst Valuation Increases
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Nvidia’s robust performance continues to astound as the company anticipates soaring revenue, defying expectations and cementing its position as a market leader. With a projected revenue of $24 billion for the current quarter, Nvidia confidently strides ahead, surpassing even the most optimistic estimates. CEO Jensen Huang, exuding unwavering confidence, emphasized the company’s stellar prospects, asserting that the groundwork for sustained growth remains exceptionally favorable well into 2025 and beyond.
At the heart of Nvidia’s unprecedented success lies its Data Center business, a juggernaut driving the company’s meteoric rise. Bolstered by the stellar performance of its H100 graphics cards tailored for AI training, the Data Center division reaped staggering rewards, boasting an astonishing $18.4 billion in sales for the fourth quarter alone. This figure represents an awe-inspiring 409% year-on-year growth, a testament to Nvidia’s unrivaled innovation and unwavering commitment to pushing the boundaries of possibility.
Analyst Update Coverage on Earnings:
Cantor Fitzgerald & Co. reiterated an “Overweight” rating, raising the target price from USD 775 to USD 900.
UBS reiterated a “Buy” rating but lowered the target price from USD 850 to USD 800.
Deutsche Bank reiterated a “Hold” rating, increasing the target price from USD 560 to USD 720.
Wolfe Research reiterated an “Outperform” rating, adjusting the target price from USD 630 to USD 900.
Argus Research Company reiterated a “Buy” rating, with the target price range adjusted from USD 600 to USD 850.
Jefferies & Company reiterated a “Buy” rating, with the target price range adjusted from USD 610 to USD 780.
Morningstar raised their target price for Nvidia from USD 730 while maintaining a “Hold” rating.
TD Cowen raised their target price from USD 700 to USD 900, maintaining an “Outperform” rating.
D. A. Davidson & Co. reiterated a “Neutral” rating, increasing the target price from USD 410 to USD 620.
HSBC Securities (USA) reiterated a “Buy” rating, with the target price range adjusted from USD 835 to USD 880.
Goldman Sachs & Co. reiterated a “Buy” rating, raising the target price from USD 800 to USD 875.
Needham & Company reiterated a “Buy” rating, with the target price range adjusted from USD 600 to USD 850.
J.P. Morgan Chase & Co reiterated an “Overweight” rating, with the target price range adjusted from USD 650 to USD 850.
Truist Financial reiterated a “Buy” rating, raising the target price from USD 691 to USD 911.
Benchmark Research reiterated a “Buy” rating, with the target price range adjusted from USD 625 to USD 1000.
Sanford C. Bernstein & Co. reiterated an “Outperform” rating, increasing the target price from USD 700 to USD 1000.
Morgan Stanley & Co. reiterated an “Overweight” rating, with the target price range adjusted from USD 750 to USD 795.
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