California-based NVIDIA Corp. (NASDAQ: NVDA) is a technology company that designs, manufactures, and sells multimedia software like an application programming interface, chipsets, and graphic processing units. It also offers artificial intelligence hardware & software and video game consoles.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
On May 25, the company reported upbeat results for the fiscal first quarter ended May 1, 2022. Earnings grew 48.6% year-over-year to $1.36 per share, compared with the Street’s estimate of $1.30 per share.
Further, revenue increased 46% to a record $8.29 billion.
Meanwhile, several analysts recently reiterated a Buy rating on the stock, as seen below:
Rick Schafer of Oppenheimer said, “NVDA’s platform of CPU, GPU, DPU and software work together to enable an accelerated computing ecosystem.”
Overall, the stock has a Strong Buy consensus rating based on 27 Buys and four Holds. NVDA’s average price target of $275.27 implies 73.5% upside potential from current levels. Shares have lost 13.8% over the past year.
Conclusion
All these Buy ratings show that the analysts expect the stock price to rise. It could be a good time to invest in the stock, which recently hit a new low, hovering near its 52-week low price.
