Nvidia's latest earnings led many analysts to raise their targets on the chipmaker

Analysts at major Wall Street shops are sticking by Nvidia after the chipmaker's latest results, with many lifting their targets on the stock. Nvidia on Wednesday reported second-quarter results that topped estimates and gave guidance for the current period that beat estimates. The company reported adjusted earnings of $1.05 per share on revenue of $46.74 billion, while analysts polled by LSEG expected $1.01 in earnings on $46.06 billion in revenue. Shares dipped about 1.9% before the bell as Nvidia's data center revenue disappointed estimates for the second straight quarter. However, several analysts still raised their price targets on the stock, including JPMorgan, Citi and Jefferies. "We believe NVIDIA continues to execute across all segments. ... We expect the data center segment to gr