shares are on track for a record close Monday, having clawed their method back from a COVID-19 drop listed below $200, after one expert improved his cost target ahead of earnings. Nvidia shares rose 3%to $32163 at last check and are on track for their very first record close considering that Feb. 19, when they ended up at $31470 Shares bottomed on the year on March 16, when they closed at $19640 On Monday, Needham expert Rajvindra Gill, who has a buy ranking on the stock, raised his price target on Nvidia to $360 from $270 on the basis that Nvidia’s just recently closed acquisition of Mellanox Technologies will be “highly accretive” to profits. Gill also sees Nvidia’s video gaming chip demand boosted by Nintendo Change sales, and higher data-center costs. Of the 39 experts who cover Nvidia, 29 have buy scores, 7 have hold ratings, and three have sell rankings, together with an average cost target of $31050, according to FactSet information. Nvidia reports first quarter incomes on May 21 after the close. Shares are up 37%on the year, compared to a 4?crease in the PHLX Semiconductor Index.
and a 10%drop in the S&P 500 Index.