NVIDIA (NVDA): Volta Drives Data Center Upside; $220 PT - Stifel

February 9, 2018 6:58 AM

Stifel analyst, Kevin Cassidy, reiterated his Hold rating on shares of NVIDIA (NASDAQ: NVDA) and raised his price target to $220 from $184 after the company printed a beat and raise quarter as gaming, perhaps assisted by crypto-currency, and data center revenue which was driven by the adoption of the new Volta GPUs, came in better than expected. Revenue of $2.911bn was up 10.4% q/q and up 34.0% y/y driving non-GAAP EPS of $1.72, well above the Street’s estimate of $1.33.

In Gaming, revenue of $1.74bn was up from $1.561bn the prior quarter. Strength came from Pascal based GeForce gaming GPUs driven by new games, iCafe’s in Asia, holiday seasonality, and eSports. In Datacenter, revenue of $606mn was up from $501mn the prior quarter. Management attributed strength coming from strong adoption of the Tesla V100 GPUs based on the Volta architecture.

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.


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