Nvidia Price Targets Cut Ahead Of Next Week’s Earnings Release
2022.05.19 19:47
By Sam Boughedda
Investing.com — NVIDIA’s (NASDAQ:NVDA) price target was cut at both Oppenheimer and Wedbush on Thursday, ahead of the company’s earnings release next week, May 25th.
Oppenheimer analyst Rick Schafer trimmed his firm’s price target on the stock to $300 from $350, maintaining an Outperform rating. In a note to clients, the analyst said that Nvidia remains the industry’s “lead AI (hardware/software) provider.”
Schafer added that demand continues to outpace supply, but current constraints should ease heading into the second half of the year.
“Our long-term thesis remains intact as NVDA‘s core leading gaming and AI accelerator franchises remain positioned for outsized structural growth,” wrote the analyst.
Meanwhile, Wedbush analyst Matt Bryson cut the firm’s price target on Nvidia to $190 from $300, keeping a Neutral rating on the stock.
Bryson said he isn’t particularly concerned about the company’s first-quarter results as he expects another strong datacenter quarter. However, he believes sales difficulties will weigh on the company’s July outlook or October quarter results.
Nvidia shares are up 3% Thursday.
