From Nasdaq.:



Nvidia (NASDAQ: NVDA) is expected to continue its strong performance in the stock market due to its dominance in the semiconductor market for AI chips. The stock has already seen a 200% increase in the past year and is projected to see further upside over the next 12 months, with an average price target of just over $661 per share indicating a 33% upside. However, investors need to consider the current valuation of the stock, which has a P/E ratio of about 65 and a P/S ratio of about 28 times sales, leading to some concerns about its rich valuation. Nvidia has reported record-breaking quarterly revenue in the third quarter of its fiscal year, which has contributed to its positive outlook. Nevertheless, there are differing opinions on whether Nvidia stock is overvalued or priced for perfection, but given its strong performance, it could meet its price target. New investors may want to proceed cautiously, wait for a lower valuation, or consider a lower-cost stock in the same industry. The Motley Fool Stock Advisor analyst team suggests considering other stocks for investment potential. Overall, while Nvidia has seen significant growth, there are concerns about its valuation and the potential for further upside.



Original: Analysts Forecast More Than 30% Upside for Nvidia. Is the Stock a Buy?