In a research report sent to investors, Canaccord Genuity analyst Matt Ramsay maintained a Hold rating on Nvidia Corporation (NASDAQ:NVDA) with a $22 price target, following investor meeting with CFO Colette Kress at International Consumer Electronics Show (CES).
Ramsay wrote, “Overall, we believe NVIDIA’s transformation from a PC-leveraged GPU supplier to a growing, diverse visual-computing company is complete. In fact, emerging GPU applications including automotive, mobile, cloud and HPC – along with solid gaming GPU sales – shouldcontinue to drive solid topline growth and strong margins. As decoupling from the PC market continues with growth in emerging markets including automotive, we become more constructive; but, we still await tangible progress toward new IP license revenue opportunities.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Matt Ramsay has a total average return of -1.4% and a 57.1% success rate. Ramsay is ranked #2616 out of 3420 analysts.