'Long live the AI king': Nvidia crushes expectations amid AI-led demand

This tech giant's AI counteroffensive is taking place says Baird analyst

According to Barid, the AI counteroffensive from tech powerhouse Google (Alphabet (NASDAQ: GOOGL)) is taking shape, and the firm is keeping an eye on two key Google AI developments.

Analyst Colin Sebastian, who has an Outperform rating and $140 price target on GOOGL shares, told investors Friday that Gemini LLM could "level the playing field with OpenAI" or even surpass it, while the "next-generation... More

NVIDIA (NVDA) PT Raised to $600 at CFRA, 'we see FCF growth at +$23B in FY 24'

CFRA analyst Angelo Zino raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $500.00) while maintaining a Buy rating.

The analyst comments "We increase our 12-month target to $600 from $500, on P/E of 32.6x our CY 25 EPS view, above peers but below... More

Former XPeng (XPEV) autonomous driving head joins Nvidia (NVDA)

Wu Xinhou, the former vice president of autonomous driving at Xpeng (NYSE: XPEV), announced Thursday that he is joining U.S. artificial intelligence giant Nvidia (NASDAQ: NVDA).

Although Wu didn't provide specific details about his new position at Nvidia,... More

NVIDIA (NVDA) PT Raised to $605 at Goldman Sachs, 'Strong Gen AI Demand and Improving Supply to Drive Continued Outperformance'

Goldman Sachs analyst Toshiya Hari raised the price target on NVIDIA (NASDAQ: NVDA) to $605.00 (from $495.00) while maintaining a Buy rating.

The analyst comments "Nvidia delivered against heightened investor expectations as growing investments in Gen AI infrastructure drove a 21% revenue beat and non-GAAP EPS (excl. SBC)... More

NVIDIA (NVDA) PT Raised to $675 at Bernstein, 'Leather jackets for everyone!'

(Updated - August 24, 2023 5:34 AM EDT)

Bernstein analyst Stacy Rasgon raised the price target on NVIDIA (NASDAQ: NVDA) to $675.00 (from $475.00) while maintaining a Outperform rating.

The analyst comments "Amid one of the most anticipated earnings results we have ever seen NVIDIA's FQ2 delivered, with revenues and EPS both well above consensus ($13,507M/$2.70 vs Street at $11,042/
$2.07). Datacenter sales exceeded $10B, above what we believe were even the more bullish expectation ranges we... More

WestPark Capital Upgrades NVIDIA (NVDA) to Buy

WestPark Capital analyst Kevin Garrigan upgraded NVIDIA (NASDAQ: NVDA) from Hold to Buy with a price target of $690.00.

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 $471.16 yesterday.

NVIDIA (NVDA) PT Raised to $600 at BMO Capital, 'High Bar? Not a Problem'

BMO Capital analyst Ambrish Srivastava raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $550.00) while maintaining a Outperform rating.

The analyst comments "The company delivered another meaningful beat and raise. The AI demand continues to climb meaningfully higher. NVIDIA's visibility is... More

NVIDIA (NVDA) PT Raised to $600 at Evercore ISI, 'Long Live the (AI) King'

(Updated - August 24, 2023 5:01 AM EDT)

Evercore ISI analyst C.J. Muse raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $550.00) while maintaining a Outperform rating.

The analyst comments "NVDA has done it again posting a monster beat and raise and driving our CY23 revenue forecast to $54.5B vs consensus of $44.2B coming in and our modeled $29.8B only 3 months ago! Mgmt. highlighted excellent Data Center visibility extending into next year with... More

Exane BNP Paribas Upgrades NVIDIA (NVDA) to Outperform

Exane BNP Paribas analyst David O'Connor upgraded NVIDIA (NASDAQ: NVDA) from Neutral to Outperform with a price target of $745.00.

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 $471.16 yesterday.

NVIDIA (NVDA) PT Raised to $560 at UBS, 'Delivering Against Elevated Expectations'

(Updated - August 24, 2023 5:15 AM EDT)

UBS analyst Timothy Arcuri raised the price target on NVIDIA (NASDAQ: NVDA) to $560.00 (from $540.00) while maintaining a Buy rating.

The analyst comments "While not as "shocking" as last Q, NVDA delivered very strong guidance that was solidly above investor bogeys we heard into the call. At some point, demand will become more of a gating factor for revenue but throughout C2024 and maybe into early 2025, NVDA should remain the "kingmaker" in AI - picking and choosing where to allocate supply (and maximize profits).... More

NVIDIA (NVDA) PT Raised to $630 at Citi, 'data center growth was the most robust in the US'

(Updated - August 24, 2023 5:03 AM EDT)

Citi analyst Atif Malik raised the price target on NVIDIA (NASDAQ: NVDA) to $630.00 (from $520.00) while maintaining a Buy rating.

The analyst comments "NVDA stock was up 7% after hours after reporting another big beat on the Jul-Q and guiding Oct-Q to $16B above the high-end of ~$15B buy-side expectations led by strong AI demand. We believe management did a good job addressing the three key topics we highlighted in our preview: AI demand, supply, and... More

NVIDIA (NVDA) PT Raised to $650 at Barclays, 'checks from our Asia Trip suggest there is still upside'

(Updated - August 24, 2023 5:07 AM EDT)

Barclays analyst Blayne Curtis raised the price target on NVIDIA (NASDAQ: NVDA) to $650.00 (from $600.00) while maintaining a Overweight rating.

The analyst comments "The October guide of $16B was at the upper end of expectations, and our checks... More

NVIDIA (NVDA) PT Raised to $610 at Jefferies, 'remains a Franchise Pick'

(Updated - August 24, 2023 5:09 AM EDT)

Jefferies analyst Mark Lipacis raised the price target on NVIDIA (NASDAQ: NVDA) to $610.00 (from $500.00) while maintaining a Buy rating.

The analyst comments "NVDA posted its second consecutive material beat/raise quarter, giving us higher... More

NVIDIA (NVDA) PT Raised to $630 at Morgan Stanley, 'we are seeing customers shift their server purchases to an as-needed model'

(Updated - August 24, 2023 5:17 AM EDT)

Morgan Stanley analyst Joseph Moore raised the price target on NVIDIA (NASDAQ: NVDA) to $630.00 (from $500.00) while maintaining a Overweight rating.

The analyst comments "We would reiterate that the driver of the upside vs. our initial... More

NVIDIA (NVDA) PT Raised to $630 at Wolfe Research

Wolfe Research analyst Chris Caso raised the price target on NVIDIA (NASDAQ: NVDA) to $630.00 (from $570.00) while maintaining a Outperform rating.... More

NVIDIA (NVDA) PT Raised to $600 at JPMorgan, 'Early Innings Of Generative AI'

(Updated - August 24, 2023 5:18 AM EDT)

JPMorgan analyst Harland Sur raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $500.00) while maintaining a Overweight rating.

The analyst comments "We believe NVIDIA continues to execute across all segments. While 1H is... More

NVIDIA (NVDA) PT Raised to $600 at Wedbush

Wedbush analyst Matt Bryson raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $490.00) while maintaining a Outperform rating.... More

NVIDIA (NVDA) PT Raised to $600 at Raymond James

Raymond James analyst Srini Pajjuri raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $500.00) while maintaining a Strong Buy rating.... More

NVIDIA (NVDA) PT Raised to $750 at Baird, 'This Is the Decade of GPUs'

(Updated - August 24, 2023 5:08 AM EDT)

Baird analyst Tristan Gerra raised the price target on NVIDIA (NASDAQ: NVDA) to $750.00 (from $570.00) while maintaining a Outperform rating.

The analyst comments "The convergence of accelerated computing and generative AI is driving very significant growth for... More

NVIDIA (NVDA) PT Raised to $560 at Deutsche Bank, 'awaiting a more favorable entry point'

(Updated - August 24, 2023 5:02 AM EDT)

Deutsche Bank analyst Ross Seymore raised the price target on NVIDIA (NASDAQ: NVDA) to $560.00 (from $440.00) while maintaining a Hold rating.

The analyst comments "In a highly anticipated report and against elevated expectations, NVDA delivered another stunning quarter as demand for AI compute (and particularly NVDA's... More

NVIDIA (NVDA) PT Raised to $670 at KeyBanc, 'Gen AI Lives Up to the Hype'

(Updated - August 24, 2023 5:17 AM EDT)

KeyBanc analyst John Vinh raised the price target on NVIDIA (NASDAQ: NVDA) to $670.00 (from $620.00) while maintaining a Overweight rating.

The analyst comments "NVDA reported F2Q results and F3Q guidance well above... More

NVIDIA (NVDA) PT Raised to $590 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh raised the price target on NVIDIA (NASDAQ: NVDA) to $590.00 (from $530.00) while maintaining a Buy rating.... More

NVIDIA (NVDA) PT Raised to STREET HIGH $1,100 at Rosenblatt, 'AI Inflects into the Biggest MOAC Tech Cycle'

(Updated - August 24, 2023 5:14 AM EDT)

Rosenblatt analyst Hans Mosesmann raised the price target on NVIDIA (NASDAQ: NVDA) to $1,100.00 (from $800.00) while maintaining a Buy rating.

The analyst comments "Nvidias epic print and guide two quarters in a row is simply unprecedented and... More

NVIDIA (NVDA) PT Raised to $620 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the price target on NVIDIA (NASDAQ: NVDA) to $620.00 (from $500.00) while maintaining a Overweight rating.... More

Stifel Upgrades NVIDIA (NVDA) to Buy, 'Generational Compute Shift Underway'

(Updated - August 24, 2023 5:23 AM EDT)

Stifel analyst Ruben Roy upgraded NVIDIA (NASDAQ: NVDA) from Hold to Buy with a price target of $600.00 (from $440.00).

The analyst comments "Following another exceptional quarter, significantly stronger-than-expected outlook, and extended demand visibility, we... More

NVIDIA (NVDA) PT Raised to $650 at BofA Securities, 'Transformative AI pipeline, still in early stages'

(Updated - August 24, 2023 5:05 AM EDT)

BofA Securities analyst Vivek Arya raised the price target on NVIDIA (NASDAQ: NVDA) to $650.00 (from $550.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating on top sector pick NVIDIA, raising our FY24/25E (~CY23/24E) pf-EPS by a material... More

Citi Issues First Review on NVIDIA (NVDA) Earnings

Citi analyst Atif Malik reiterated a Buy rating and $520.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst comments "CITIS TAKE: NVDA reported better-than-expected Jul-Q results and guidance amid continued AI demand strength. We are awaiting commentary on the earnings call at 5pm ET. See our preview. Fundamentals: NVDA... More