Nvidia (NASDAQ:NVDA) stock is a hot topic among traders on Tuesday as several analysts have increased their price targets for the shares.
These price target increases come as analysts prepare for Nvidia to release its upcoming earnings report next week. The company has been making strong strides in the artificial intelligence (AI) sector, and analysts expect that to be reflected in its earnings report.
Morgan Stanley started off the price increases when it bumped NVDA’s target up to $500 per share on Monday. To go along with that, the firm also reiterated that NVDA stock is one of its top picks.
Moving on to today, UBS analyst Timothy Arcuri increased his price prediction for NVDA shares from $475 to $540. That represents a potential upside of 23.4%. This also comes with a reiterated “buy” rating for the stock.
Finally, Wells Fargo also set a 12-month price target of $500 per share for NVDA stock today. To put that in perspective, the analysts’ consensus price prediction for NVDA shares is $434.21 each.
What to Expect From NVDA’s Earnings
Investors will want to keep an eye on NVDA’s AI business during its earnings report. Other financial factors to keep in mind are Wall Street’s estimates for the period. Analysts are looking for earnings per share of $2.07 alongside revenue of $11.13 in that report.
NVDA stock is up 1.6% as of Tuesday morning, with some 14 million shares on the move. The company’s daily average trading volume is about 50 million shares.
There’s even more stock market news that traders need to know about below!
We’ve got all of the hottest stock market news ready to go for investors on Tuesday! Among that is why shares of VinFast (NASDAQ:VFS), Altisource Asset Management (NYSEMKT:AAMC), and F45 Training (NYSE:FXLV) stock are moving today. All of that news is ready to go at the following links!
More Tuesday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
