These Analysts Slash Price Targets On NVIDIA Following Weak Earnings, Shares Drop

NVIDIA Corporation NVDA reported weaker-than-expected results for its second quarter on Wednesday.

Nvidia is guiding for third-quarter revenue of $5.9 billion plus or minus 2%.

Nvidia shares fell 3.5% to $166.24 in pre-market trading.

Several analysts made changes to their price targets on Nvidia today.

• JP Morgan cut the price target on the stock from $230 to $220. JP Morgan analyst Harlan Sur maintained an Overweight rating on the stock.
• Citigroup reduced price target on the stock from $285 to $248. However, Citigroup analyst Atif Malik maintained Nvidia with a Buy.
• Raymond James cut Nvidia’s price target $240 to $210. However, Raymond James analyst Melissa Fairbanks maintained the stock with a Strong Buy.
• Barclays lowered the price target on the stock from $200 to $190. However, Barclays analyst Blayne Curtis maintained Nvidia with an Overweight.