Here's all the analysts raising Nvidia's price target after earnings

Investing.com -- Nvidia (NASDAQ:NVDA )'s revenue forecast for the fourth quarter fell short of investors' elevated expectations, sparking concerns about a potential slowdown in the AI boom.

Shares of Nvidia initially fell more than 3% in premarket trading on Thursday, but later pared losses to less than 1%. While the chipmaker exceeded profit forecasts for the recent quarter, it predicted its slowest revenue growth in nearly two years, alongside a dip in adjusted gross margins (GMs).

For the fourth quarter, Nvidia projected revenue of $37.5 billion, with a margin of plus or minus 2%, slightly above analysts' consensus of $37.09 billion, according to LSEG data. This outlook suggests a deceleration in revenue growth to about 69.5%, compared to the 94% increase reported in the third quarter.

The company reported adjusted earnings of 81 cents per share for the third quarter, surpassing the 75 cents per share anticipated by analysts.

Revenue from Nvidia's data center segment, a key driver of growth, rose by 112% to $30.77 billion, though this marked a slowdown from the 154% growth seen in the prior quarter. The surge was fueled by ongoing investments from cloud providers expanding infrastructure to meet the demands of generative AI.

Nvidia reported that its adjusted gross margin fell to 75%, reflecting some of the pressures weighing on profitability. Wall Street raises Nvidia price targets despite investor concerns

While investor concerns over Nvidia’s guidance were reflected in the stock price action, analysts on Wall Street seem less worried about the AI chipmaker’s prospects. More concretely, a number of investment firms voiced bullish comments after the print, raising their price objectives on Nvidia stock.

JPMorgan analysts raised their target price from $155 to $170, noting that Blackwell production is “progressing well” and “ will continue to outstrip supply for several quarters into 2025.”

Goldman Sachs lifted its price objective on NVDA from $150 to $165. Despite expectations of near-term gross margin headwinds, the firm foresees “growing demand for AI infrastructure across all customer groups,” improving supply trends, and gross margin normalization in the second half of 2025.

Meanwhile, Barclays (LON:BARC ) hiked the Nvidia price target from $145 to $160, saying that the company’s “modest guide and GM commentary sets the next two quarters in a better spot as the company shifts its focus over to ramping Blackwell.”

Some of the other investment firms that raised price targets on Nvidia stock include Mizuho (NYSE:MFG ), from $165 to $175; Needham & Co. from $1450 to $160; and Benchmark from $170 to $190.

Source: Investing.com