Citigroup thinks NVDA stock could hit $300
Analysts are weighing in on semiconductor stock NVIDIA Corporation (NASDAQ:NVDA), auction site eBay Inc (NASDAQ:EBAY), and digital payments platform Paypal Holdings Inc (NASDAQ:PYPL). Here's a quick roundup of today's bullish brokerage notes on shares of NVDA, EBAY, and PYPL.
Citigroup Says NVDA Stock Can Hit $300
Citigroup raised its price target on Nvidia stock to $180 from $145, while adding there's a bull case for a move to $300. NVDA shares closed yesterday at $149.12, after hitting a record high of $149.88, bringing its 52-week gain to 215%. The stock appears set to nab a new all-time peak out of the gate, up 3.3% in electronic trading. Amazingly, there are still plenty of bearish analysts, with 12 brokerage firms rating NVDA stock a "hold" or "strong sell." Plus, the shares have blown past their average 12-month price target of $126.20.
EBAY Stock Looks to Extend Run Higher After Bull Note
Citigroup also weighed in on eBay stock, upping its price target to $41 from $36. The shares hit a record high of $36.02 on Monday, and closed yesterday at $35.77, up 20.5% in 2017. EBAY shares are trading 1% higher ahead of the bell. In the meantime, options traders have been buying EBAY call options relative to put options at a faster-than-usual clip. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 50-day call/put volume ratio of 2.81, which ranks in the 78th annual percentile.
Analysts Eye Upside for PYPL Stock
eBay spin-off PayPal is also in the good graces of analysts this morning, with Credit Suisse and Berenberg raising their respective price targets to $56 and $57. PYPL stock closed Wednesday at $53.85, after hitting a record high of $54.07 on Monday. The shares have gained 36.4% year-to-date -- and are up another 0.3% in pre-market trading -- yet short sellers keep targeting them. Short interest rose by almost 15% over the past two reporting periods, and now almost a week's worth of potential buying power is sold short. PayPal stock could get a boost on the charts, then, if these bears begin to cover their losing positions.