Piper Sandler analysts caution investors not to anticipate another surge in Nvidia stock on May 22. After a recent rally, the tech company may experience a plateau in its stock performance. Stay informed and strategize wisely before making any investment decisions.
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Nvidia, a leading chip giant, is gearing up to release its fiscal first quarter results. Analysts are optimistic about another strong showing from the company, especially in the data center products segment. With demand remaining robust for Nvidia’s GPUs, the Market is anticipating a beat and raise quarter. Piper Sandler’s Harsh Kumar, an esteemed analyst, predicts that Nvidia could potentially outperform revenue expectations for both April and the upcoming July quarter.
Despite the high expectations, the stock price may not rally significantly, as Nvidia has consistently surpassed revenue forecasts in the past. Kumar remains bullish on Nvidia’s outlook for the second half of the year, citing upcoming new architecture sales. He rates the stock as Overweight with a price target that suggests an 11% upside potential in the coming months.
Wall Street analysts overwhelmingly share Kumar’s optimism, with a Strong Buy consensus rating on Nvidia stock. The average target price indicates a potential 9% increase in the next year. It seems like Nvidia is poised for further growth and remains a top pick in the large-cap sector. Investors can explore potential investment opportunities using TipRanks’ Best Stocks to Buy tool.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. It is recommended to conduct thorough analysis before making any investment decisions.
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1. Will Nvidia stock see another rally on May 22?
According to Piper Sandler, it is not expected to see another rally on that day.
2. Why is Piper Sandler not predicting another rally for Nvidia stock?
Piper Sandler believes that the stock may not experience another rally on May 22.
3. Should I expect a drop in Nvidia stock on May 22?
Piper Sandler’s statement suggests that a rally may not happen, but it does not necessarily mean a drop will occur.
4. What should investors do if they own Nvidia stock?
Investors may consider monitoring the stock closely and making informed decisions based on Market trends and analysis.
5. Is it safe to invest in Nvidia stock on May 22?
As with any investment, it is important to conduct thorough research and consult with financial experts before making decisions about buying or selling Nvidia stock.
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