NVIDIA Corporation Stock Forecast:
According to 46 analysts’ forecasts, the average price target for NVIDIA Corporation over the next year is USD 239.30, and the average analyst rating is Strong Buy. Stock Target Advisor has also analyzed NVIDIA Corporation’s stock and determined it to be Slightly Bullish, based on 11 positive signals and 7 negative signals. Currently, the stock price for NVIDIA Corporation is USD 207.54, which has changed by -8.83% over the past week, +16.34% over the past month, and -11.27% over the last year.
Analysts Coverage Change:
- Barclays raises the price target to $275 from $250 on the company’s stock.
- Needham & Company maintains a “Buy” rating for NVIDIA Corp. and raises the price target to $270 from $230.
- Citigroup maintains a “Buy” rating and raises the price target to $245 from $210.
- Wells Fargo & Company maintains an “Overweight” rating and raises the price target to $275 from $250.
- Deutsche Bank raises the price target to $200 from $170.
- Mizuho Securities maintains a “Buy” rating and raises the price target to $230 from $200.
- Bank of America Merrill Lynch maintains a “Buy” rating and raises the price target to $275 from $255.
- Truist Financial maintains a “Buy” and raises the price target to $266 from $238.
- Robert W. Baird & Co. maintains a “Neutral” rating and raises the price target to $230 from $150.
- J.P. Morgan Chase & Co maintains an “Overweight” rating and raises the price target to $250 from $220.
NVIDIA Corporation News:
Nvidia Corp is poised to be the top beneficiary among chipmakers as artificial intelligence (AI) becomes increasingly popular. Nvidia has been focused on AI for several years, making it a preferred supplier for tech companies. The tech industry’s growth has slowed, resulting in many layoffs and reduced experimentation, but investments in AI are a bright spot.
Nvidia exceeded Wall Street expectations with its quarterly earnings, and its sales outlook is positive, in contrast to Intel Corp’s projected loss and dividend cut. Nvidia’s shares increased by over 12% in early trading on Thursday, and the company’s market value has risen to over $500 billion, making it the seventh-largest publicly traded U.S. firm.
The company’s success is due to its control of about 80% of the market for GPUs, which are specialized chips that provide the computing power required for AI services like Microsoft-backed OpenAI’s ChatGPT chatbot.
