Nvidia (NVDA) Price Target Raised by 30.8% to $850 by Oppenheimer Analyst

Oppenheimer's Rick Schafer raised their price target on Nvidia (NASDAQ: NVDA) by 30.8% from $650 to $850 on 2024/02/16. The analyst maintained their Buy rating on the stock.

In light of this, other analysts have also updated their views on NVDA. Wells Fargo's Aaron Rakers raised their price target by 24.4%, from $675 to $840, and kept their Strong Buy rating on the stock. Similarly, Wedbush's Matt Bryson raised their price target by 33.3%, from $600 to $800, and maintained their Buy rating on the stock.

Currently, 93.9% of top-rated analysts view NVDA as a Strong Buy or Buy, while 6.1% consider it a Hold. Notably, no analysts recommend selling the stock.

The consensus forecast among analysts suggests that NVDA's upcoming year will yield earnings per share (EPS) of $4.18. If these predictions hold true, NVDA's next yearly EPS will experience a 45.4% decline year-over-year.

Since NVDA's last quarterly report on 2023/10/29, the stock price has surged by 79.3%. Over the past year, NVDA has seen a remarkable 230% increase in its stock price, outperforming the S&P 500 by a significant margin, which itself has risen by 22.4%.

Oppenheimer analyst Rick Schafer is highly regarded, ranked in the top 5% of Wall Street analysts by WallStreetZen, with an impressive average return of 19.6% and a win rate of 64.6%. Schafer specializes in the Technology, Consumer Defensive, and Financial Services sectors.

Nvidia Corporation, known for providing graphics, compute, and networking solutions globally, offers a diverse range of products catering to various sectors such as gaming, professional visualization, datacenter, and automotive markets. The company's Graphics segment includes GeForce GPUs for gaming, Quadro/NVIDIA RTX GPUs for enterprise workstation graphics, and automotive platforms. In contrast, its Compute & Networking segment provides Data Center platforms, Mellanox networking solutions, and automotive AI solutions, among others. NVIDIA's strategic collaborations and product offerings continue to position it as a key player in the technology industry.

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WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.