Shares of Nvidia (NVDA) are slightly higher in today’s trading after it received some analyst praise. In fact, Jefferies, via five-star analyst Blayne Curtis, is anticipating another big win for the chip maker when it reports earnings and expects both results and guidance to beat expectations by around $1B. The firm is set to report its Q2 results on August 28, with analysts predicting earnings per share of $0.64 on revenue of $28.54B.
One of the key factors driving Curtis’ current estimates is the delay in Nvidia’s Blackwell chip, as it pushed some revenue further out and left investors guessing about the full impact. Despite some design delays affecting customers like Meta (META), Google (GOOGL), and Microsoft (MSFT), demand for Nvidia’s Hopper chips is still strong, and the company’s continued production should help manage the transition to Blackwell.
It’s worth noting that, so far, Curtis has enjoyed a 79% success rate on NVDA stock, with an average return of 75.07% per rating. He currently has a Buy rating on the stock with a $150 price target.
Investor Sentiment for NVDA Stock
The sentiment among TipRanks investors is currently positive. Out of the 750,558 portfolios tracked by TipRanks, 20% hold NVDA stock. In addition, the average portfolio weighting allocated towards NVDA among those who do have a position is 13.29%. This suggests that investors of the company are extremely confident about its future.
Furthermore, in the last 30 days, 2.6% of those holding the stock increased their positions. As a result, the stock’s sentiment is above the sector average, as demonstrated in the following image:
What Is the Target Price for NVDA?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 37 Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 184% rally in its share price over the past year, the average NVDA price target of $144.17 per share implies 16.82% upside potential.
