NVIDIA (NVDA): Capacity Constraint More Than Offsets Seasonality; $300 PT - BofA

February 9, 2018 7:27 AM EST
Get Alerts NVDA Hot Sheet
Price: $192.13 -1.76%

Rating Summary:
    37 Buy, 16 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 34 | New: 109
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

BofA/Merrill Lynch analyst, Vivek Arya, reiterated his Buy rating on shares of NVIDIA (NASDAQ: NVDA) and raised his price target to $300 from $275 after the company reported $2.9bn in sales surging 34% y/y, or $241mn/10% ahead of consensus. The analyst estimates. about half of the upside came from crypto-mining (11% of sales in Q4 vs 8% in prior quarter).

The analyst stated "We sense NVDA was capacity constrained during the quarter, which likely kept lid on more strength in the PC gaming segment. For Q1, NVDA’s $2.9bn sales outlook is $460mn/19% ahead of cons, and likely indicates improved availability of gaming cards that helps offset normal seasonality".

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 $217.52 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst EPS View, Analyst PT Change