Retail investors are building up their holdings in chipmaking giant Nvidia (NVDA) ahead of its Q1 earnings next week – May 20.
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New trading tool for NVDA bearsNvidia, whose stock is up around 26% this year, continues to benefit from global demand for its chips in the AI revolution. It is also making progress in other areas such as robotics.
At TipRanks, we can gauge exactly how retail investors who hold our Smart Portfolios are feeling about a stock. We do that through a tool called Crowd Wisdom.
For Nvidia, it shows that the number of investors holding it in their portfolios has increased over the last three months.
Let’s see what it says, in detail, about NVDA.
Looking at the Crowd Wisdom page, we see that 18.1% of 862,067 smart portfolios now hold NVDA stock. Over the last 30 days, 0.8% more portfolios held NVDA stock. Over the last 7 days, there has been a 0.3% increase.
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Investor sentiment in the NVDA stock is described as being Positive, which is just around the sector average.
Some of the most optimistic have been investors aged under 35, with a 1.7% increase in NVDA holders in the last 30 days. This age bracket represents about a tenth of all NVDA investors.
Just as bullish are investors in the over 55 age bracket with a 1.4% rise in NVDA holders in the last 30 days. This age bracket represents around a half of all NVDA investors.
TipRanks data also shows what NVDA investors bought over the last 7 and 30 days. Top of the list is chipmaker Qualcomm (QCOM), follwed by Walt Disney (DIS) and marketplace Shopify (SHOP).
Is NVDA a Good Stock to Buy Now?
On TipRanks, NVDA has a Strong Buy consensus based on 40 Buy, 1 Hold and 1 Sell ratings. Its highest price target is $380. NVDA stock’s consensus price target is $279.28, implying an 18.69% upside.
