Analyst Quinn Bolton of Needham maintained a Buy rating on Nvidia (NVDA – Research Report), with a price target of $160.00.
Quinn Bolton has given his Buy rating due to a combination of factors that highlight Nvidia’s strong performance and future potential. The company has exceeded expectations with its Blackwell platform, which is ramping up at an unprecedented pace. This success comes despite earlier concerns about overheating and strategic shifts from partners like Microsoft, indicating robust demand and resilience in Nvidia’s operations.
Furthermore, Nvidia’s gross margin estimates have been adjusted slightly, reflecting the complexity of its customizable rack design. However, the increasing demand for inference, driven by new models requiring significantly more computational power, suggests a promising growth trajectory. These elements collectively support Quinn Bolton’s positive outlook on Nvidia’s stock, justifying the Buy rating.
In another report released today, Citi also maintained a Buy rating on the stock with a $163.00 price target.
Based on the recent corporate insider activity of 124 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.