NVIDIA Stock: Steep Sell-Off May Be Ending
Analysts Remain Bullish on NVDA
NVIDIA's (NVDA) stock has experienced a significant sell-off in recent months, plunging by over 23% at one point. However, analysts remain optimistic about the company's long-term prospects, with an average 12-month price target of $136.74, according to CNN Business.
Key Takeaways
* NVIDIA's stock has experienced a steep sell-off, but analysts remain bullish. * The average 12-month price target is $136.74, with a range of $62 to $200. * Traders are expecting NVIDIA's upcoming earnings report to spark a significant price movement.Traders Anticipate Earnings-Driven Price Volatility
Traders in the US Equity options market are expecting NVIDIA's upcoming earnings report to have a major impact on the stock price. Based on short-term price targets offered by 40 analysts, the average target price comes to $141.90, with a range of $90.00 to $210.00.
Analyst Recommendations
Of the 37 analysts covering NVIDIA, 34 recommend buying the stock, while 3 recommend holding it. No analysts recommend selling the stock.
Factors Driving NVIDIA's Stock Performance
* Strong demand for NVIDIA's graphics cards in the gaming and data center markets. * Growing adoption of artificial intelligence (AI), which is driving demand for NVIDIA's GPUs. * Ongoing supply chain disruptions, which have constrained NVIDIA's ability to meet demand.Conclusion
Despite the recent sell-off, analysts remain bullish on NVIDIA's long-term prospects. The company's strong fundamentals and position in the growing AI market are expected to drive future growth. Traders are anticipating a significant price movement following NVIDIA's upcoming earnings report, which could provide further insight into the company's performance and outlook.
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