Nvidia price target boosted to Street high of $854 at Jefferies

Dow Jones2021-06-17

MW Nvidia price target boosted to Street high of $854 at Jefferies

Shares of Nvidia Corp. $(NVDA)$ are up 2.8% in Thursday morning trading after Jefferies analyst Mark Lipacis boosted his price target on the stock to $854 from $740. The new target is the highest listed on FactSet. Lipacis is more upbeat about Nvidia's prospects following a recent conversation with the company's chief financial officer, Colette Kress, which highlighted the potential for software licensing in the data center. "While software is mostly embedded within hardware sales today, enterprise AI software in the data center can potentially be licensed similarly to how VMware licenses its system software," Lipacis wrote. He noted that Kress said that it was possible for the company to break out software sales as a revenue line item once it becomes a meaningful portion of the business. Lipacis also relayed Nvidia's expectation that its Arm acquisition will close in the early part of 2022. "Nvidia plans to help ARM build its model beyond just mobile by bringing ARM to the data center, automotive and IoT [Internet of Things] markets," he wrote. "These progressions for ARM are viewed as not something ARM can do as effectively as a stand-alone company." Nvidia shares have gained 37% over the past three months as the S&P 500 has risen 6%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

June 17, 2021 10:12 ET (14:12 GMT)

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Comments

sqh240387
2021-06-18
sqh240387
Huat
Parik
2021-06-18
Parik
That’s quite a jump for Nvidia!! Way to go
JCinvest
2021-06-18
JCinvest
Woahh

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Lipacis is more upbeat about Nvidia's prospects following a recent conversation with the company's chief financial officer, Colette Kress, which highlighted the potential for software licensing in the data center. \"While software is mostly embedded within hardware sales today, enterprise AI software in the data center can potentially be licensed similarly to how VMware licenses its system software,\" Lipacis wrote. He noted that Kress said that it was possible for the company to break out software sales as a revenue line item once it becomes a meaningful portion of the business. Lipacis also relayed Nvidia's expectation that its Arm acquisition will close in the early part of 2022. \"Nvidia plans to help ARM build its model beyond just mobile by bringing ARM to the data center, automotive and IoT [Internet of Things] markets,\" he wrote. \"These progressions for ARM are viewed as not something ARM can do as effectively as a stand-alone company.\" Nvidia shares have gained 37% over the past three months as the S&amp;P 500  has risen 6%. \n</p>\n<p>\n  -Emily Bary; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  June 17, 2021 10:12 ET (14:12 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia price target boosted to Street high of $854 at Jefferies</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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