Nvidia shares slip as oil surge weighs on markets; Cantor keeps $350 target

  • Cantor Fitzgerald maintained a Buy rating and $350 price target for Nvidia.
  • $96.22 billion fiscal second-quarter revenue rose 105.9% year over year.
  • Mark Stevens sold more than 1.02 million Nvidia shares for approximately $235.6 million.

NVIDIA Corp. (NASDAQ:NVDA) shares fell 2.1% to about $225.73 on Tuesday as rising crude oil prices and heightened Middle East geopolitical tensions pressured markets and growth stocks. Cantor Fitzgerald analyst C.J. Muse maintained a Buy rating and a $350 price target, implying about 55% upside from Tuesday’s close. Muse ranked No. 9 among more than 12,500 analysts tracked by TipRanks, with a 72% accuracy rate and average one-year returns of 78.1% per recommendation. Nvidia reported fiscal second-quarter revenue of $96.22 billion on Aug. 26, up 105.9% from a year earlier and above the $92.27 billion consensus estimate. Earnings per share were $2.22, exceeding the $2.09 forecast. Management reaffirmed guidance for approximately 70% revenue growth through fiscal 2028. BMO Capital analyst Harsh Kumar also maintained a Buy rating and a $340 target. The broader analyst consensus was Strong Buy, based on 29 Buy recommendations and a mean price target of $325.23, representing 44.1% potential upside. This consensus differs from the previously reported $349.15 average forecast. Board member Mark Stevens sold more than 1.02 million shares worth about $235.6 million on Sept. 3-4, reducing his direct holding by roughly one-third. Insiders sold about 2.59 million shares valued at approximately $571 million over the preceding three months through pre-established Rule 10b5-1 arrangements. Nvidia shares remained above their 20-day, 50-day, 100-day and 200-day simple moving averages, while the company continued its $80 billion repurchase authorization and announced a quarterly dividend of $0.25 per share payable Oct. 1.

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