Analysts are bullish on Nvidia stock ahead of next week's earnings.
Mizuho's analyst raised Nvidia's target price ahead of the November 20 earnings report.
The company expects Nvidia to maintain dominant market share in datacenter chips used for AI training.
Analysts predict that Nvidia will report an 82% revenue growth compared to the previous year on average.
Shares of Nvidia (NVDA) rose on Tuesday ahead of the company's earnings for the third quarter scheduled next week, after Mizuho analysts raised the company's stock price target.
According to Visible Alpha, the company raised its target from $140 to $165, slightly surpassing the analysts' consensus of nearly $160. Nvidia's stock price has recently risen by almost 2% to about $148, not far from its recent record high.
"[Nvidia] has continued to be the leader in AI training and inference chips for datacenter applications," wrote the analyst, estimating that the company holds close to 95% market share in this field.
Nvidia's third-quarter earnings scheduled for November 20 will mark its first performance as a member of the Dow Jones Industrial Average after being added to the prestigious stock index following Sherwin-Williams (SHW), a paint manufacturer.
According to the analyst consensus, Nvidia reported revenue of $33.7 billion, an 82% increase from the previous year. The stock of the world's most valuable company nearly tripled in 2024 driven by demand for the company's AI chip family, including the next-generation Blackwell graphics processing unit.
The company expects Nvidia to maintain dominant market share in datacenter chips used for AI training.
Analysts predict that Nvidia will report an 82% revenue growth compared to the previous year on average.
Shares of Nvidia (NVDA) rose on Tuesday ahead of the company's earnings for the third quarter scheduled next week, after Mizuho analysts raised the company's stock price target.
According to Visible Alpha, the company raised its target from $140 to $165, slightly surpassing the analysts' consensus of nearly $160. Nvidia's stock price has recently risen by almost 2% to about $148, not far from its recent record high.
"[Nvidia] has continued to be the leader in AI training and inference chips for datacenter applications," wrote the analyst, estimating that the company holds close to 95% market share in this field.
Nvidia's third-quarter earnings scheduled for November 20 will mark its first performance as a member of the Dow Jones Industrial Average after being added to the prestigious stock index following Sherwin-Williams (SHW), a paint manufacturer.
According to the analyst consensus, Nvidia reported revenue of $33.7 billion, an 82% increase from the previous year. The stock of the world's most valuable company nearly tripled in 2024 driven by demand for the company's AI chip family, including the next-generation Blackwell graphics processing unit.
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