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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $240 price target on Nvidia (NASDAQ:NVDA) following the company’s recent quarterly results and guidance. The stock, currently trading near its 52-week high of $184.48, has demonstrated remarkable strength with an impressive 45.4% return over the past six months.
The semiconductor giant provided revenue guidance of $54 billion for the October quarter, exceeding the consensus estimate of $52.6 billion, though some investors had anticipated an even stronger outlook, resulting in a modest sell-off. According to InvestingPro data, Nvidia has maintained exceptional revenue growth of 86.17% over the last twelve months, with a robust gross profit margin of 70.11%.
Cantor Fitzgerald noted that Nvidia is currently sold out of its Blackwell chips and the October quarter outlook includes zero revenue from China H20 products due to geopolitical uncertainty, though management suggested potential to ship $2-5 billion in the quarter as the situation resolves. With an excellent financial health score and over 20 key insights available on InvestingPro, investors can access comprehensive analysis of Nvidia’s market position and growth potential.
The firm highlighted that Blackwell Ultra ramp is just beginning, having generated "tens of billions" in revenue during the July quarter, and projects Nvidia remains on track to ship 5.5 million GPUs in calendar year 2025.
Cantor Fitzgerald maintains its view that Nvidia could achieve approximately $200 billion in data center revenues in calendar year 2025, compared to current consensus estimates of $178 billion, despite potential headwinds from China.
In other recent news, Nvidia reported earnings that surpassed expectations, with strong performance in its Gaming segment, although its Data Center revenue grew slower than anticipated. Stifel reiterated a Buy rating on Nvidia, maintaining a price target of $212, following these results. Rosenblatt increased its price target to $215 from $200, citing the ramp-up of Nvidia’s Grace Blackwell-based racks and the anticipated acceleration of unit shipments. Needham also maintained its Buy rating and $200 price target, noting that third-quarter revenue guidance aligns with expectations but excludes revenue from H20 chips in China.
Wolfe Research raised its price target for Nvidia to $230 from $220, highlighting the company’s fiscal second and third-quarter results, which slightly exceeded market expectations. The firm also pointed out that China’s revenue remains absent from Nvidia’s outlook due to geopolitical challenges. William Blair reiterated an Outperform rating, noting Nvidia’s modest beat-and-raise quarter but acknowledging the exclusion of H20 contributions amid ongoing uncertainty regarding China export licenses. These developments reflect the company’s recent performance and ongoing challenges in the global market.
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