NVIDIA Stock Target Price Raised to Unprecedented Levels Ahead of Q1 Earnings
Highlights
- Ahead of Nvidia's Q1 earnings, market sentiments orbiting NVDA reflect optimism.
- Stifel, Baird, and Barclays give attention-nabbing target prices for Nvidia.
- NVDA stock price continues to note gains.
In an unprecedented development that has echoed a frenzy across Wall Street, following Nvidia stock’s phenomenal price surge experienced recently, the global leader in artificial intelligence computing is now scaling even greater heights. Notably, coming in tandem with the rapid growth of AI, leading full-service investment firms have further raised the NVDA stock target price to unprecedented levels ahead of the firm’s Q1 earnings.
This phenomenon has garnered noteworthy attention toward Nvidia, as its stock has emerged as a favorite on investors’ radars. Let’s take a closer look at the raised price targets and NVIDIA’s pioneering stance within the AI industry.
Raised Target Prices Fuel Market Optimism
In a series of posts shared by Bloomberg correspondent Walter Brandimarte on X, dated May 20, numerous raised price targets by investment firms were brought attention to.
Stifel, a full-service brokerage and investment banking firm, has raised the target price to $1,085 from $910. Further, Barclays, another investment firm, raised the target price to $1,100 from $850. Moreover, Baird raised the target price to $1,200 from $1,050.
This has injected a flurry of optimistic thoughts on Nvidia’s future stock movements, as these raised targets indicate that the stock’s value will increase ahead. Meanwhile, these raised targets also emerged amid the firm’s looming Q1 earnings, set to be revealed on May 22.
Market experts believe Nvidia will continue pioneering the AI computing domain, with its Q1 revenue beating previous records. The raised price targets further support this.
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NVDA Stock Price Continues To Rally
According to a recent report, a six-fold surge in Nvidia’s shares since 2023 has made it one of the most valuable firms on Wall Street, worth over $2.30 trillion. Further, while writing, Nvidia Corporation’s common stock (NVDA) rested at $947.97 during pre-market hours, up 2.51% today. Its pre-market highs and lows are $939.75 and $927.1, respectively.
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