Nvidia (NASDAQ: NVDA) will report Q2 results to the clock on Wednesday, and analysts expect a strong print and outlook.
Susquehanna analyst Christopher Rolland (Positive) raises NVDA from $ 450 to Street High $ 540, and believes that the Ampere gaming GPUs next month will offset the expected H2 data intrigue, which will help Nvidia improve its outlook increase.
Rolland: “Although Intel and others are forecasting a delay in 2H data centers, we believe the setup will remain favorable for Nvidia, helped by the relatively new launch of the A100.”
Oppenheimer (Outperform) raises Nvidia’s price target from $ 400 to $ 500 and expects a “strong” Q2 print this week, driven by data center and AI.
Analyst Rick Schafer echoed the forecast for an H2 delay in data center and cloud computing after an excessive year of investment, but also expects gaming to offset the excitement.
More price target: Wells Fargo (Overweight) from $ 430 to $ 510.
Nvidia shares are up 3.1% to $ 476.78.
Here’s a look at NVDA’s surprise history versus consensus:
