This week in tech: Analysts sweet on Nvidia; Tesla cuts prices again
By Louis Juricic and Sarina Isaacs
Investing.com — Here is your weekly Pro Recap on the biggest headlines out of tech this week: analysts bump up price targets for Nvidia; Cisco bumps higher even after missing guidance targets; Tesla cuts prices again; and Coinbase wins a regulatory battle.
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This past week, ahead of earnings due out on Wednesday, Oppenheimer analysts boosted Nvidia's (NASDAQ:NVDA) price target to $500, writing that Nvidia “remains the purest scale play on AI adoption.” And Rosenblatt hiked Nvidia's price target to as much as $800 per share, which is a new Street high.
Rosenblatt analysts wrote that investor expectations for earnings per share in fiscal 2025 (calendar year 2024) «have risen substantially, but we recommend investors stay the course here and remain bullish amid the recent pullback in the stock over the past month.»
The analysts added, «Demand will dictate NVDA's long-term AI revenue opportunity, but supply should be the primary determinant for its data center revenue at least through C2024.»
Analysts are looking for second-quarter earnings of $2.07 per share on revenue of $11.17 billion. For the current quarter, the Street is seeking EPS of $2.35 on revenue of $12.49B.
Shares rose 7% for the week to $432.99.
Cisco (NASDAQ:CSCO) on Thursday issued disappointing full-year revenue guidance, but it topped Wall Street targets for the fiscal fourth quarter and the stock gained on management optimism across several areas, including AI.
The company said adjusted earnings per share came to $1.14 — $0.08 better than consensus — on revenue of $15.2B, above the $15.05B average target, on the
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