5 Trending Stocks to Watch on Monday

2. NVIDIA Corporation (NASDAQ:NVDA) has plummeted 1.68% as of 11:00 AM ET after the Santa Clara, California-based firm received multiple downward revisions in target price ahead of its quarterly results on May 25. Matt Bryson at Wedbush slashed the target price on NVIDIA Corporation (NASDAQ:NVDA) from $300 to $190 and reiterated a Neutral rating on the stock. Bryson’s target price is the lowest among all the other revisions. The analyst anticipates that the strong demand from the data center market will help NVIDIA Corporation (NASDAQ:NVDA) at least meet the quarterly estimates, if not surpass them.

In its Q1 2022 investor letter, ClearBridge Investments discussed its insights on NVIDIA Corporation (NASDAQ:NVDA).

“Gaming is an attractive end market within the media/technology sector with strong growth and a long runway, particularly in mobile gaming. Unity’s platform provides an engine and toolkit for development and monetization of games, e-commerce and industrial applications, adding to our industry exposure, which also includes Nvidia (NASDAQ:NVDA) in graphic processing chips.”

The shares of NVIDIA Corporation (NASDAQ:NVDA) were held by 110 hedge funds as of Q4 2021.