In a report released yesterday, Blayne Curtis from Jefferies maintained a Buy rating on Nvidia (NVDA – Research Report), with a price target of $185.00.
Blayne Curtis’s rating is based on Nvidia’s strong performance and promising outlook, particularly with the successful ramp-up of their Blackwell product line. The company exceeded revenue expectations with $11 billion in Blackwell revenue, which positions them well for the rest of the year as they transition from Hopper to Blackwell.
The improvement in supply chain conditions and the anticipated growth in data center and networking segments further support the positive outlook. Additionally, Nvidia’s ability to maintain strong gross margins despite the transition challenges and the positive impact of the GTC event as a catalyst for AI spending contribute to 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.