Chip stocks have been strong this year, so the reaction to a further strong earnings report will be key to see if this strength can be maintained. Nvidia shares actually fell on the regular session, closing down over 3% at $292.61. Nvidia looks set to open strongly on Thursday as the chip manufacturer reported a strong set of earnings after the close last night.

NVDA stock up 6% in premarket as all-time high eyed.

Nvidia still running into problems with the proposed ARM deal.

Nvidia surges after earnings report with top and bottom line beats.

Likewise, Citi analyst Atif Malik has a price target of $285 and a buy rating on the stock.

The analyst believes that Nvidia holds a leadership position in data centers which will drive growth in addition to autonomous technology and artificial intelligence.

Further, Ivan Feinseth, a Tigress analyst has a price target of $310 with a Buy rating on the stock. He believes that the company will continue to face online issues in Russia and China in addition to the concerns surrounding crypto. Recently several analysts have reduced their price targets on NVDA stock but still maintain their buy ratings.įor example, Piper Sandler analyst Harsh Kumar has a price target of $235 with an overweight rating on the stock. Nvidia can advantage this increasing demand. Companies have enormous data and they are looking for ways to extract insight and automate and quicken processes. If you are looking for one reason to invest in NVDA stock, it will be the potential of the data center. There is massive demand in the industry and if the company manages to deploy its resources well, it will be able to keep pace with the demand.įor this quarter, the company expects $8.1 billion in sales and projects another record quarter in data center sales. These two remain the dominant business segments for the company, but it looks like the data center will take over for the next few years. In the first quarter, the company reported data center sales of $3.75 billion and gaming sales of $3.62 billion. It is not by accident, but with careful planning and investment, that Nvidia has achieved tremendous success in this area. However, the company has reported massive growth in the data center segment and it has become a major contributor to the revenue. Despite having a presence across multiple industries, Nvidia was best known for gaming and PC hardware over the past few years.

Nvda earning report