Investors may want to consider using the post-earnings weakness in Nvidia to scoop up shares, according to some Wall Street analysts. Shares of Nvidia slumped about 3% in the premarket — after falling by more than 8% at one point in after-hours trading — even after the chipmaker topped Wall Street's quarterly estimates . Nvidia also said it plans to ship "several billion dollars" worth of Blackwell revenue in the fourth quarter, alleviating some recent concerns of production delays.
The company, however, said gross margins declined from the previous quarter. Nvidia also issued a stronger-than-expected forecast, but it was below the so-called "whisper" number. Some Wall Street analysts attributed these disappointments to the decline.
That wasn't enough to deter analysts from recommending buying the Nvidia dip. "We are buyers of NVDA on the pullback following the Q2 print," wrote Piper Sandler's Harsh Kumar. "In our opinion, fundamentals remain intact; however, the stock is off AH on concerns of [gross margin] compression paired with guidance not being large enough relative to prior beats.
" NVDA 1D mountain Shares fall after earnings report UBS analyst Timothy Arcuri also recommended buying the weakness, noting that key indicators for the company remain bullish. Those include growth in purchase and supply commitments. Bernstein's Stacy Rasgon, meanwhile, lifted his price target to $155 from $130, saying the "narrative remains solid.
" The new target reflects 23% upside from .