NVIDIA Stock Forecast: NVDA Closes LOWER but Well Placed to RISE Further

NVIDIA Stock Forecast: NVDA Closes LOWER but Well Placed to RISE Further
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NVIDIA Stock Forecast: – Shares of NVIDIA Corporation (NASDAQ: NVDA) are expected to trade between $ 308 and $ 336 in the next 24 hours. The Overall recommendation for next 24 hours is Buy

2 out of 3 Momentum Indicators are Positive

2 analysts

NVIDIA Corporation closed 2.1% lower at $ 326.76 in the last trading session.

Metric
Value
Trend
Share Volume
62 M
Higher
Average Share Volume
35 M
NA
Forward PE (1 Year)
92.20
NA
Screenshot 2021 12 01 at 1.25.07 PM

NVIDIA Stock Forecast: Momentum Summary

Metric
Momentum
Price
Lower
Technical Indicator
Buy
Social Media Buzz Momentum
Higher

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NVIDIA Stock Forecast: Performance chart

1 day
5 day
1 Month
1 Year
-2.1%
+3.66%
+26.5%
+144.0%

While NVDA ended lower yesterday, the stock has the basics in place to go higher this week.

Screenshot 2021 12 01 at 1.33.27 PM

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NVIDIA Stock Forecast: Technical Analysis

Support
Resistance
Recommendation
$ 311 (S3)
$ 338 (R1)
Buy
$ 304 (S3)
$ 334 (R1)
Buy

NVDA Stock Analysis – ONLY GREEN!?

NVIDIA Stock Forecast: Latest News and Tweets

Analysts see 41% upside

Originally tweeted by MarketCharts.com (@MarketCharts) on November 30, 2021.

$NVDA just triggered a MACD buy signal. Chart

Originally tweeted by Charlie (@coralctrading) on November 29, 2021.

$NVDA
Looks like the next target is $349…
Keeping my eyes peeled for the jump this week. Still fully scaled into my $395 12/31 Call

FFYiJvrWQAsRIuB

Originally tweeted by Benny Trailz (@benjitradess) on November 29, 2021.

I think it can go higher tomorrow but I think it will meet resistance again soon. I had it hitting a 422% fib extension last week. Looks like a false breakout, need to watch closely what happens when price revisits that area $NVDA

FE69 42XoAIK9N5

NVIDIA Stock Forecast: Social Media Sentiment

Social Media Sentiment Period
Positive Sentiment
Negative Sentiment
Sentiment Trend
Last 7 days
11%
7%
Neutral
Last 24 hours
13%
6%
Positive

NVIDIA Stock Forecast: Latest Crowd Videos

NVIDIA OMNIVERSE | Is NVIDIA Stock a BUY? | NVDA Stock Analysis

NVIDIA Stock Forecast: Company Background

Nvidia Corporation is an American multinational technology company headquartered in California. It was founded on April 5, 1993 by Jensen Huang. It designs graphic processing units (GPUs) for gaming and professional computers as well as system on a chip unit (SoC) for mobile computing. Its primary GPU product “GeForce” competes with GPUs of “Radeon” brand by “Advanced Micro Devices (AMD).

In addition to GPU manufacturing, Nvidia is also engaged in application programming interface (API) called CUDA which are deployed in supercomputing sites around the world.

NVIDIA Stock Forecast: Better Than Expected Q3 Results

  • On Nov 17th, Nvidia reported Q3 results and they beat most estimates. It reported revenue of $7.1 billion against the street expectation of $6.82 billion. Revenue was 50 percent higher than the same quarter a year ago.
  • Diluted earnings per share stands at $1.17 per share against an estimate of $ 1.11.
  • Data centre revenue was up by more than 55 percent YoY and is reported at $2.9 billion. Gaming revenue was $3.2 billion, up by 42 percent.
  • Auto sales were down by more than 10 percent and stood at $135 million. The decline was expected as the industry is struggling with supply chain issues. Nvidia also sold $105 million cryptocurrency mining cards down from $266 million sequentially.
  • The much talked about segment of Nvidia, its professional visualisation business, however small it is, has seen the highest growth. In the third quarter, it reported a revenue of $577 million, up by more than 140 percent in comparison of a year ago.
  • Nvidia also raised the guidance for fourth quarter and expects sales to be around $7.4 billion which is well ahead of analyst estimates of $6.86 billion

Nvidia Stock Forecast: Analyst have Raised the Target Price

After Nvidia reported better than expected results, analysts issued bullish commentary on stock –

  • Raymond James analyst Chris Caso affirmed strong buy on the stock with target price of $365, up significantly from his prior estimate of $225. As per Caso, supply struggles are easing, creating demand for its data centre and a positive environment is being built up from the last two quarters.
  • Jefferies analyst Mark Lipacis also boosted the target share price from $260 to $370. Mark believes the earnings per share rising to $16.40 per share by 2025, and revenue from Omniverse virtual reality platform to whooping $80 billion 
  • Needham analyst Rajvindra Gill has lifted the target price to all the way to $400 from $245. He weighs on booming growth in data centre business and bright prospects for global gaming market.

Nvidia Stock Forecast: Omniverse Platform and Metaverse Opportunity.

  • Omniverse is Nvidia’s answer to booming opportunity of Metaverse- a virtual world to allow people engage and communicate with one another using augmented reality, virtual reality and artificial intelligence.
  • Omniverse is like a replication engine for training robots, augmenting real world data and simulating the real world functionaries. One of the features of metaverse is using avatars that will replicate yourself in front of others and Nvidia is offering Omniverse avatars for this.
  • During the earnings call, Huang claimed annual license fee of $1000 per user to use Omniverse. There is expected to be around 40 million designers around the world, that will sour the revenue from Omniverse to around $40 billion in coming years.
  • The $40 billion figure excludes the sales of GPUs users will have to buy for their PCs to run Omniverse, which can run on any device by using Nvidia RTX graphics technology. That will boost the core business of GPU for Nvidia further.

All this explains how big opportunity is on the doors of Nvidia and it cannot be overlooked as a growth catalyst in near future.

Nvidia Stock Forecast: Should you buy now?

Nvidia is firing all cylinders and taking all positive steps to outperform on its expectations. Nvidia is a classic example of a growth stock, and nobody can deny the future growth prospects of virtual reality, augmented reality and artificial intelligence.

However, NVDA shares are currently trading at more than 80x forward earnings and therefore could be volatile in the short run. However, the stock is a good bet in the long run.

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Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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