Nvidia Corporation (NASDAQ:NVDA) yesterday was the subject of a new research report issued by Canaccord Genuity in which it was reiterated as ‘Buy’ by analysts at the firm.
Canaccord Genuity noted a target price of 120 on Nvidia Corporation’s shares. According to this price target, it now means the analyst believes there is a potential increase of 12.63% from the company’s current share price of 106.54.
Today there are 539,000,000 shares in issue of Nvidia Corporation which are currently trading at 106.54 which brings the business’s market capitalisation to 57.43B USD.
The 50 day moving average of Nvidia Corporation (NASDAQ:NVDA) is 98.52 whilst its 200 day moving average is 70.73. The highest share price NASDAQ:NVDA shares have reached in the prior twelve months is 119.93 with the lowest being 24.75.
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users. The Company’s Tegra brand integrates an entire computer onto a single chip, and incorporates GPUs and multi-core central processing units (CPUs) to drive supercomputing for mobile gaming and entertainment devices, as well as autonomous robots, drones and cars. The Company’s processor has created platforms that address four markets: Gaming, Professional Visualization, Datacenter, and Automotive. The Company’s offerings include NVIDIA DGX AI supercomputer, the NVIDIA DRIVE AI car computing platform and the GeForce NOW cloud gaming service.