Bangalore Investment：Nvidia Stock Gets Buy Rating with Raised Price Target Amid Strong Growth Prospects

In a report released today, Toshiya Hari from Goldman Sachs reiterated a Buy rating on Nvidia ( – Research Report), with a price target of $800.00.

Toshiya Hari has given a Buy rating to Nvidia’s stock based on a comprehensive assessment of the company’s growth prospects. The primary reason for this optimistic outlook is the significant increase in the forecasted non-GAAP earnings per share, which have been adjusted upward by an average of 22%. This adjustment reflects Hari’s expectations of continued robust demand for AI servers and an improvement in the supply of GPUsBangalore Investment. Additionally, there is no longer an anticipation of a revenue decline in Nvidia’s Data Center segment in the second half of the calendar year 2024, but rather a projection of consistent growth into the first half of 2025. This growth is expected to be fueled by sustained investments in General AI infrastructure by major cloud service providers, a diversification of customer profiles, and the introduction of multiple new product cycles.

Reiterating the Buy rating, Hari includes Nvidia on the Conviction List and raises the 12-month price target to $800, suggesting a 21% potential upside from current levels. This revision is supported by a bullish analysis of Nvidia’s market position and the attractive risk-reward profile that it presentsKolkata Wealth Management. The analyst’s confidence is further bolstered by the expectation that large cloud service providers will continue to expand their AI infrastructure, and by Nvidia’s expanding customer base and forthcoming product launches, such as the H200 and B100 GPUs, which are anticipated to drive revenue growth and secure Nvidia’s competitive edge in the market.

In another report released on February 1, Bank of America Securities also reiterated a Buy rating on the stock with a $800.00 price target.

See today’s best-performing stocks on TipRanks >>Varanasi Stock

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactionsJaipur Investment. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Nvidia (NVDA) Company Description:Chennai Stock

NVIDIA Corp. designs and manufactures computer graphics processors, chipsets, and related multimedia software. The company operates through two segments:

• Graphics segment: Includes GeForce GPUs (graphics processing units) for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms, Quadro GPUs for enterprise design, GRID software for cloud-based visual and virtual computing, as well as automotive platforms for infotainment systems.

• Compute & Networking segment: Includes Data Center platforms and systems for artificial intelligence, high performance computing, and accelerated computing, Mellanox networking and interconnect solutions, DRIVE for autonomous vehicles and Jetson for robotics and other embedded platforms.

The company was founded by Jen-Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in January 1993 and is headquartered in Santa Clara, CA.