Yahoo Finance 5 big analyst picks: NVIDIA upgraded to Buy on data center growth | Pro Recap
Investing.com -- Here is your daily Pro Recap of the biggest analyst picks you may have missed since yesterday.
NVIDIA upgraded to Buy on expected revenue and profit acceleration
Erste Group upgraded NVIDIA (NASDAQ:NVDA) to Buy from Hold, expecting the company's sales in the data center segment to increase sharply due to the growing use of AI.
As always, InvestingPro subscribers got this news first. Start your free 7-day trial to get on board.
The company saw its Data Center segment grow revenue by 11% year-over-year in Q4, while its Gaming segment was slow to recover.
The firm stated that NVIDIA's products are the most powerful ever for this crucial application area and said it anticipates a significant acceleration in revenue and profit growth by 2024.
Squarespace upgraded to Buy at Citi
Squarespace (NYSE:SQSP) shares rose more than 2% yesterday after Citi upgraded the company to Buy from Neutral and raised its price target to $40.00 from $30.00, reflecting an improved growth outlook resulting in upside tension to its near-term and long-term estimates.
Citi said its upgrade is supported by strong Q4/22 results and 2023 guidance, a favorable macro environment, positive results from its Web Builders Survey, fundamental drivers like payments rolling out in H2, improved pricing, and packaging, and structurally higher margins leading to upside tension to estimates.
The company is set to report its Q1/23 earnings results on May 9.
3 more picks
Pagaya (NASDAQ:PGY) shares gained more than 3% pre-market today after Benchmark initiated coverage on the company with a Buy rating and a price target of $2.00.
Despite near-term headwinds from rising rates and economic uncertainty, the company continues to add partners and produce attractive metrics. According to Benchmark, the company’s economic model has 20% EBITDA margin potential, promising significant cash flows in the longer term. The company is investing in its platform to achieve first mover advantage, utilizing AI to augment traditional lending practices and achieving impressive results to date.
Benchmark upgraded Range Resources (NYSE:RRC) to Buy from Hold with a price target of $32.00.
The company reported its Q1 results on Monday, with both EPS of $0.99 and revenue of $853 million beating the consensus estimates. However, shares closed with more than a 2% loss yesterday.
BofA Securities upgraded Soho House (NYSE:SHCO) to Buy from Underperform and raised its price target to $8.00 from $7.00.
Related Articles
5 big analyst picks: NVIDIA upgraded to Buy on data center growth | Pro Recap
