Nvidia stock surges 900%, announces stock split, with analysts expecting further price target hikes

From Nasdaq: 2024-06-18 14:29:34

Nvidia (NVDA) stock has surged close to 900% since November 2022, now valued at $3.22 trillion, making it the third-largest company globally. The semiconductor giant recently announced a stock split, boosting its attractiveness to retail investors and analysts raising price targets anticipating continued growth.

In fiscal Q1 of 2025, Nvidia reported revenue of $26.04 billion and adjusted earnings per share of $6.12, surpassing Wall Street estimates. With data center sales growing and the upcoming launch of Blackwell AI GPU, Nvidia remains at the forefront of the AI megatrend.

Nvidia’s stock might see further increases as the Technology Select SPDR Fund rebalances, potentially attracting $10 billion in fund flows to NVDA. Analysts have set new Street-high price targets, with expectations for the stock to reach $200 and beyond in the future, driven by strong sales and earnings growth.

With a bullish outlook from analysts and expected adjusted earnings per share of $7.25 by fiscal 2029, Nvidia could reach $225 by May 2028 if priced at 30x forward earnings. The company’s performance and position within the market continue to fuel optimism among investors and analysts alike.



Read more at Nasdaq: Is Nvidia Stock Already Due for More Post-Split Price-Target Hikes?