Options traders are showing increased activity ahead of Nvidia's upcoming earnings report, with call volume outpacing put volume by more than double on Monday.
However, a significant portion of these calls were executed at the bid or below, indicating potential selling pressure.
Goldman Sachs recently raised its price target for Nvidia to $195 from $180, citing stronger-than-expected capital expenditure guidance from hyperscale cloud providers.
This activity comes as the semiconductor leader prepares to report fiscal first-quarter results, with its conference call expected to draw intense scrutiny from investors and analysts.
Goldman Sachs recently raised its price target for Nvidia to $195 from $180, citing stronger-than-expected capital expenditure guidance from hyperscale cloud providers.
The firm points to updated spending plans from major cloud players as a key driver for its revised outlook.
This analyst action adds to the anticipation surrounding the earnings release, which could provide further clarity on the company's growth trajectory in the AI and data center markets.