NVDA | 24 May 2024 | AI Stock Analysis & News

Nvidia’s fiscal first-quarter earnings results exceed expectations, driving the stock price up.

🔴 (-2.0%) short-term forecast: Bearish
🔴 (-1.9%) long-term forecast: Bearish

Stock AI’s (NVDA) Forecast get (+34.4% Profit)

StockAI’s analysis delivers real-world results. On 21 February 2024, $NVDA ($668.21), StockAI predicted a long-term 🟢 buy signal. It was accurate: 1 month later price increased to $898.1 (🟢34.4%). Buying NVDA on this signal yielded a +34.4% profit 💰💰.

NVDA-NVIDIA Corporation News

🟢 NVIDIA’s fiscal first-quarter earnings results exceed expectations, showing strong growth in the AI chips market.
🔴 European stocks retreat, impacting NVDA’s performance negatively.
🟢 Rosenblatt Securities reaffirms “buy” rating for NVDA, with a price target of $1,400.00.
🔴 Wedbush reaffirms “outperform” rating for NVIDIA, impacting investors’ sentiment.
🟢 Goldman Sachs raises price target for NVDA from $1,000.00 to $1,100.00.
🔴 Barclays raises price target for NVDA from $850.00 to $1,100.00.

NVIDIA Corporation’s stock has been impacted by a mix of positive and negative news recently. The strong fiscal first-quarter earnings results and reaffirmation of a “buy” rating have provided a positive outlook for investors. However, the retreat in European stocks and mixed ratings from different analysts have created uncertainty in the market. The increase in price targets from Goldman Sachs and Barclays shows some optimism, but the overall sentiment remains cautious. As a result, the short-term forecast for NVDA is a slight decrease of 2.0%, while the long-term forecast shows a 1.9% decrease. The market is closely watching for any further developments to gauge the stock’s performance in the coming days.

NVDA-NVIDIA Corporation Analyst Ratings

In recent analyst ratings for NVIDIA Corporation stock, we have seen a mix of upgrades and downgrades:

📉 Wedbush reaffirmed their outperform rating on shares of NVIDIA, with a target price of $1,000.00.
📈 Oppenheimer also restated their outperform rating on NVIDIA stock, with a target price of $1,100.00.
📉 HSBC raised their price target on NVIDIA stock, while maintaining a buy rating.

1. Wedbush
2. Oppenheimer


Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.

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