Zhitong Finance and Economics learned that in Nvidia (NVDAUS) reported quarterly results and guidance that far exceeded expectations, and Wall Street analysts praised it. Wall Street analysts called Nvidia a game-changer and raised their price targets on the stock.
The analyst's opinion is as follows:
Bank of America analyst Vivek Arya reiterated his "**" rating on Nvidia and raised his price target to $925 from $800.
"Perhaps the most important new data in Nvidia's earnings conference** is that AI inference contributed nearly 40% of the AI computing portfolio in fiscal year 2024 and calendar year 2023," Arya said. "Secondly, we note the company's positive comments on the tension, new products, rising demand for AI from sovereigns, etc. ”
Arya raised Nvidia's earnings estimates for 2024 and 2025 by 13% and 15%, respectively. He said the next catalyst is Nvidia's GTC conference next month, where new details about its product line, including the B100 and GB200, may be provided.
Citi analyst Atif Malik reiterated his "**" rating on Nvidia and raised his price target to $820 from $575.
Nvidia expects the installed base of data infrastructure, which is currently around $1 trillion, to double in the next five years, which has led to a significant increase in Malik earnings expectations. Malik raised Nvidia's EPS estimates for fiscal 2025 and fiscal 2026 by 58% and 75%, respectively, to "better align" with the total AI addressable market analysis.
Benchmark analyst Cody Acree reiterated his "**" rating on Nvidia and raised his price target to $1,000 from $625.
Acree said that while the market had already expected Nvidia's strong results, there were still "some positive surprises" in the guidance compared to Wall Street's expectations.
Wedbush maintained Nvidia's "Outperform**" rating and raised its price target to $850 from $800.
Dan Ives, an analyst at Wedbush Securities, said Nvidia's quarterly results and guidance were seen as a "game-changing moment" and reiterated that the AI revolution had just begun.
"For tech transition stories like Nvidia and the AI revolution, investors have to look through the trees to see the forest and see where this spending wave is going over the next three years," Ives said. We believe that 60%-70% of enterprises will eventually embark on the path of AI use cases, and we estimate that AI spending will increase by $1 trillion over the next 10 years. ”
At the moment we're just talking about generative AI in the enterprise, and AI applications in the consumer sector, led by companies like Alphabet, Meta, Amazon, Microsoft, and others, are coming. ”
Cantor Fitzgerald, Analyst Cj.MUSE maintained an "overweight" rating on Nvidia and raised its price target to $900 from $775.
MUSE said the performance and guidance were seen as a "Goldilocks scenario" as Nvidia management also noted that there could be shortages of new products such as the H200, Spectrum-X and B100. This suggests that growth will continue to be "good" through 2025, with earnings per share likely approaching $30.
As of press time, Nvidia rose 1214% at 756$60.