Piper Sandler analyst Harsh Kumar has maintained their bullish stance on NVDA stock, giving a Buy rating today.
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Harsh Kumar has given his Buy rating due to a combination of factors including the anticipated approval of licenses for Nvidia to resume sales of its H20 chips to China. The lifting of the previous ban, which had significantly impacted Nvidia’s sales figures, is expected to provide a substantial boost to the company’s revenue in the coming quarters.
Moreover, the strong demand for Nvidia’s chips, particularly in the AI sector, suggests a positive outlook for the company’s growth. The potential market expansion in China, alongside the expected benefits to other industry players, reinforces the favorable conditions for Nvidia’s stock performance, justifying the Buy recommendation.
In another report released today, Needham also maintained a Buy rating on the stock with a $200.00 price target.
Based on the recent corporate insider activity of 111 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.