- Barclays raises Nvidia’s (NASDAQ:NVDA) price target by $35 to $140.
- The price shift comes after the Q2 earnings beat estimates due to strong but potentially short-term cryptocurrency mining demand while the important data center segment didn’t grow as much as expected sequentially.
- Barclays says cryptocurrency revenue streams shouldn’t get a multiple because it will eventually become a headwind.
- If Nvidia wants to trade at 40x to 50x multiple, the earnings results need to show stronger, cleaner growth in long-term business segments like the data center.
- Source: Briefing.com
- Nvidia shares closed today down 5.33%.
- Previously: Analysts raise Nvidia price targets after earnings (Aug. 11)