Goldman Sachs Cuts Estimates on NVIDIA (NVDA) Ahead of Earnings

Goldman Sachs analyst Toshiya Hari reiterated a Buy rating and $185.00 price target on NVIDIA (NASDAQ: NVDA) ahead of FY1Q (April) results on 5/16 post close.

The analyst stated "While we remain bullish on the company’s long-term prospects in Gaming, Datacenter and Automotive, we believe near-term challenges stemming from overall industry weakness in Datacenter (continued pause at key Cloud customers) and Automotive (unit weakness in China/Europe), and a weaker product mix in Gaming (higher low/mid-end mix, per our checks) persist. As such, we lower our near-term estimates - specifically our FY1Q, FY2Q, FY20 EPS by 4%/15%/9% - while we largely maintain our FY21/22 EPS forecast of $7.16/$9.40, respectively".

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $165.04 yesterday.

You May Also Be Interested In

• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery