Sam Boughedda

Investing.com — NVIDIA’s (NASDAQ:) price target was cut at both Oppenheimer and Wedbush on Thursday, ahead of the company’s earnings release next week, May 25th.

Rick Schafer, Oppenheimer’s analyst for the stock, has reduced his target price to $300 (from $350) while maintaining an Outperform rating. In a note to clients, the analyst said that Nvidia remains the industry’s “lead AI (hardware/software) provider.”

Schafer stated that the demand for the product continues to exceed the supply. However, current restrictions should improve as we move into the second half. 

“Our long-term thesis remains intact as NVDA‘s core leading gaming and AI accelerator franchises remain positioned for outsized structural growth,” wrote the analyst.

Matt Bryson, a Wedbush analyst, reduced the price target for Nvidia from $300 to $190. He maintained a Neutral rating. 

Bryson indicated that he’s not concerned about the company’s results in its first quarter, as he believes there will be another strong quarter for datacenters. He believes that sales problems will impact the October quarter outlook and July outlook of the company. 

Nvidia shares were up by 3% Thursday