Nvidia Stock Is a Screaming Buy Before Aug. 26, According to Wall Street
Most Wall Street analysts think Nvidia stock is deeply undervalued ahead of its financial report on Aug. 26.
Overview
Nvidia (NASDAQ: NVDA) will announce second-quarter financial results at 5:00 p.m. ET on Aug. 26, and the entire stock market could rise or fall on the news. That's partly because Nvidia accounts for 8% of the S&P 500 (SNPINDEX: ^GSPC), but also because investors see the chipmaker as a barometer of the artificial intelligence boom.
Wall Street is predominantly bullish ahead of the report. The consensus earnings estimate has been revised higher in the past month, and most analysts consider Nvidia deeply undervalued. The stock has a median 12-month target price of $300 per share. That implies 44% upside from the current share price of $208.
Details
Here's what investors should know.
Source
Originally published at www.fool.com.