The Ratings Game: Nvidia stock falls after earnings fail to change any minds

Nvidia Corp. can’t predict what will happen the rest of the year, and analysts on a whole disagree on what that means for the stock.

After Nvidia reported an earnings beat Thursday afternoon but pointedly did not reiterate earlier annual guidance, analysts were split about what to do with that information Friday: Five dropped their price targets and seven increased their targets, according to FactSet. But no analysts tracked by the service actually changed their rating on the company, and most said nothing that Nvidia reported was truly surprising.

“We had thought that guidance was too aggressive in the first place (we suspect many investors did also), and our estimates already reflected a more conservative view,” Raymond James analyst Chris Caso wrote while maintaining a $180 price target.

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