NVIDIA Corporation NVDA posted weaker-than-expected . earnings for its third quarter, but topped sales expectations.
Nvidia reported third-quarter revenue of $5.93 billion, down 17% year-over-year. The revenue total beat a Street estimate of $5.77 billion. The company reported earnings per share of 58 cents in the quarter, down 50% year-over-year. Earnings per share missed a Street estimate of 69 cents per share.
NVIDIA said it sees Q4 revenue of $6 billion, plus or minus 2%. The Street estimate is $6.09 billion.
NVIDIA shares gained 0.7% to $160.25 in pre-market trading.
These analysts made changes to their price targets on NVIDIA after the company released quarterly results.
- Deutsche Bank raised price target on Home Depot from $140 to $150. Deutsche Bank analyst Ross Seymore maintained a Hold rating on the stock.
- Needham raised NVIDIA price target from $155 to $200. Needham analyst Rajvindra Gill maintained a Buy rating on the stock.
- Mizuho lowered the price target on the stock from $205 to $200. Mizuho analyst Vijay Rakesh maintained the stock with a Buy.
- Raymond James cut NVIDIA’s price target from $210 to $190. Raymond James analyst Melissa Fairbanks maintained the stock with a Strong Buy.