NVIDIA's Blowout Quarter Helps It Remain A Top Pick At Jefferies

NVIDIA’s Blowout Quarter Helps It Remain A Top Pick At Jefferies

After market close on Thursday, NVIDIA Corporation (NASDAQ: NVDA) reported Q3 results, which blew away Street estimates. Midday Friday, the stock was trading up over 25 percent. Positive Quarter In Review The positive quarter led Jefferies analyst Mark Lipacis to increase his price target for the company from $80 to $95 while maintaining a Buy rating and keeping the stock as a top pick at Jefferies. The positive quarter (EPS beat of $0.27 and revenue beat of 19 percent) reinforced the analyst view that a NVIDIA investment would be playing on three trends: gaming, datacenter and automotive — all of which saw substantial year-over-year growth: Gaming: 62 percent of NVIDIA’s sales, 63 percent growth year-over-year. Datacenter: 12 percent of sales, 193 percent growth year-over-year. Automotive: 6 percent of sales, 61…


Link to Full Article: NVIDIA’s Blowout Quarter Helps It Remain A Top Pick At Jefferies