Nasdaq NVDA Nvidia

The wisdom of crowds can sometimes turn into the mistakes of the masses. Just because a lot of people on Reddit or another online community like a stock doesn't necessarily mean it's a smart long-term pick.

Nvidia Corporation (NVDA) has inked a deal to buy DeepMap, Inc., a private company focused on building high-definition maps to help autonomous vehicles (AV) navigate safely. Shares rose 2.3% to close at $713.01 on June 11.

Nvidia designs and manufactures computer graphics processors, chipsets, and related multimedia software for the gaming and professional markets. (See Nvidia stock analysis on TipRanks)

The transaction is subject to certain regulatory approvals and is expected to close in the third quarter of FY2021. Financial terms of the deal were not disclosed.

DeepMap’s technology will strengthen the mapping and localization abilities of NVIDIA DRIVE, the company’s autonomous vehicles development platform. The technology will enhance the precision required by an AV to navigate itself safely.

Ali Kani, the company’s vice president and general manager of Automotive said, “DeepMap is expected to extend our mapping products, help us scale worldwide map operations and expand our full self-driving expertise.”

Recently, after meeting with the company’s management, Raymond James analyst Chris Caso reiterated a Buy rating on the stock and said, “NVDA remains one of our favorite ideas based on our view the company remains in the early stages of several secular growth drivers - independent of broader cyclical trends in semis.”  

Caso added, “In Gaming, the company has secured enough supply to drive sequential growth through the balance of the year… In Datacenter, we believe NVDA has more shots on goal than any other semi supplier, led by an established leadership position in accelerated computing.”

Consensus among analysts is a Strong Buy based on 26 Buys and 1 Hold. The NVDA average analyst price target stands at $730.50 and implies upside potential of 2.5% to current levels. Shares have gained 94.3% over the past year.

Related News:
FuelCell Energy Reports Disappointing Q2 Results; Shares Plunge 10.7%
Chewy Reports Better-Than-Expected Q1 Results; Shares Slip
Dave & Buster’s Delivers Solid Quarterly Results; Shares Jump

Investors sometimes find it hard to buy into stocks after they've gone up, especially if they've climbed to multiples of their share price in just a few years. But savvy investors know that a history of strong share-price appreciation is a sign of quality.With that in mind, we as

On Friday, NVIDIA (NASDAQ: NVDA) ended its week with the announcement of a pending acquisition. The company said it had reached an agreement to acquire DeepMap, a privately held business that specializes in creating high-definition maps to help guide autonomous cars.

Technology stocks were on course to end the trading session near intraday highs, with the SPDR Technology Select Sector ETF rising 0.4% late in Friday regular-hours trading while the Philadelphia Semiconductor Index was advancing 0.2% this afternoon.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Technology stocks were mostly higher, with the SPDR Technology Select Sector ETF Friday rising 0.3% while the Philadelphia Semiconductor Index was advancing 0.1% this afternoon.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

The popularity of mining Bitcoin and other cryptocurrencies has increased attention on the shortage of semiconductors, which are used in the computers that mine cryptocurrency. While chip stocks have surged higher as prices have risen for this critical tech component, cryptocurr

Top Autonomous Vehicle Stocks To Watch In The Stock Market Right NowIt has been an invigorating year for autonomous vehicle stocks so far. Why do I say that? That’s because self-driving technology has been one of the hottest investing themes on Wall Street in recent years.

Technology stocks were advancing in premarket Friday as the Technology Select Sector SPDR ETF (XLK) was up 0.23% and the Semiconductor Sector Index Fund (SOXX) was 0.37% higher recently.

Nasdaq and global asset manager Invesco are expanding their partnership with the launch of two new exchange-traded funds (ETFs), the Invesco Nasdaq Biotechnology ETF (IBBQ) and the Invesco PHLX Semiconductor ETF (SOXQ).

Investors can find great investment ideas by identifying rapidly growing companies that are disrupting old ways of doing things. All it takes is one winner to positively impact your financial goals. Three innovative fast-growers to consider are DocuSign (NASDAQ: DOCU), Roblox (NY

Bitcoin prices have crashed from levels of around $62,000 in mid-April to just about $33,000 as of Tuesday. The sell-off has been driven by multiple factors including China’s crackdown on Bitcoin trading and mining and Tesla’s surprise reversal of its decision on acce

Intel Corp is debating a possible offer to buy SiFive Inc, a person familiar with the matter told Reuters, a company closely associated with open-source technology that is challenging the rise of Intel's rival, Arm Ltd.

Zoom Video's first-quarter revenue soars, but the stock stays grounded. Etsy (NASDAQ: ETSY) plans to buy Depop, a secondhand-fashion app, for $1.6 billion. In this episode of MarketFoolery, Motley Fool analyst Tim Beyers analyzes those stories, as well as Taiwan Semiconductor's (

Investors in NVIDIA Corp (Symbol: NVDA) saw new options begin trading today, for the July 30th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the NVDA options chain for the new July 30th contracts and identified one put and one call contra

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips