Barclays Thinks Nvidia’s Stock is Going to Recover


Barclays analyst Blayne Curtis maintained a Buy rating on Nvidia (NVDA) yesterday and set a price target of $200. The company’s shares closed yesterday at $151.72, close to its 52-week low of $124.46.

According to TipRanks.com, Curtis is a 5-star analyst with an average return of 8.3% and a 58.2% success rate. Curtis covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Smart Global Holdings Inc, and Quantenna Communications.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nvidia with a $227.25 average price target, which is a 49.8% upside from current levels. In a report issued on January 4, Citigroup also reiterated a Buy rating on the stock with a $244 price target.

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Based on Nvidia’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $3.18 billion and net profit of $1.23 billion. In comparison, last year the company earned revenue of $2.64 billion and had a net profit of $838 million.

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments.

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