Shares of Nvidia (NASDAQ:NVDA) jumped at the time of writing after Morgan Stanley gave a little nudge to investors eyeing their recent dip. Analyst Joseph Moore jotted down some insights, suggesting that now might be the perfect time to jump on board, especially with Nvidia’s Q2 results right around the corner. Moore is anticipating not just a substantial beat in this quarter but a clear outlook for the coming ones. He even went ahead and slapped a Buy rating with a $500 price target on Nvidia, naming it the go-to in the semiconductor game.
Diving deeper, Moore sees Nvidia cashing in big from data center revenues, especially with the world’s growing appetite for artificial intelligence. And while there’s been some chatter about supply constraints, he’s not sweating it much. Sure, the current supply chain hiccup might throw a spanner in the works for a bit, but he’s confident the semiconductor landscape will be oversupplied soon, except for some niche tech segments.
What is the Target Price for NVDA?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 30 Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Nevertheless, the average price target of $506.72 per share implies 17.87% upside potential.
