Jefferies predicts Nvidia will exceed Q2 estimates, with positive sentiment and analyst ratings.

From NASDAQ: 2024-08-16 11:46:59

Shares of Nvidia (NVDA) are up slightly after receiving positive analyst praise. Analyst Blayne Curtis predicts earnings and guidance will exceed expectations by $1B, with Q2 results expected on August 28. Earnings per share forecasted at $0.64 with revenue of $28.54B.

Curtis attributes his estimates to delays in Nvidia’s Blackwell chip, impacting revenue. Despite design delays affecting customers like Meta, Google, and Microsoft, demand for Hopper chips remains strong, aiding the transition to Blackwell.

Curtis boasts a 79% success rate on NVDA stock with an average return of 75.07% per rating. He maintains a Buy rating with a $150 price target. Investor sentiment on NVDA stock is positive, with 20% of portfolios holding NVDA, averaging a 13.29% portfolio weighting.

Wall Street analysts have a Strong Buy consensus rating on NVDA, with an average price target of $144.17. After a 184% share price increase in the past year, this target implies a 16.82% upside potential. Visit the link to see more NVDA analyst ratings.



Read more at NASDAQ: Jefferies: Expect Nvidia (NASDAQ:NVDA) to Smash Q2 Estimates