9 Analysts have revised their 12-month target forecasts on Nvidia’s stock

Stock Market Update for April 4th, 2024

Nvidia Stock Analyst Coverage

Analysts have revised their 12-month target forecasts on Nvidia’s stock as follows:

  1. Citigroup: Raised their target from USD 820 to USD 1030 while maintaining a Buy rating on March 20, 2024.
  2. Goldman Sachs & Co.: Increased their target from USD 875 to USD 1000 with a Buy recommendation on March 20, 2024.
  3. Stifel Nicolaus: Reiterated their Buy rating with a target of USD 910 on March 20, 2024.
  4. Piper Jaffray Companies: Maintained their Overweight rating and raised their target from USD 850 to USD 1050 on March 20, 2024.
  5. Benchmark Research: Reiterated their Buy rating with a target of USD 1000 on March 20, 2024.
  6. Deutsche Bank: Raised their target from USD 720 to USD 850 while holding a Hold rating on March 20, 2024.
  7. Argus Research Company: Increased their target from USD 850 to USD 950 with a Buy recommendation on March 20, 2024.
  8. Morningstar: Maintained their Hold rating with a target of USD 910 on March 20, 2024.
  9. Oppenheimer & Co.: Maintained their Outperform rating and raised their target from USD 850 to USD 1100 on March 20, 2024.

NVDA Stock Forecast & Analysis

According to the forecast from 33 analysts, the average target price for NVIDIA Corporation over the next 12 months is projected to be USD 813.55. This suggests an optimistic outlook on the company’s performance. The consensus among these analysts is strongly in favor of buying NVIDIA’s stock, as the average analyst rating is “Strong Buy.”

Stock Target Advisor’s analysis of NVIDIA Corporation presents a more neutral stance. Based on their evaluation, which considers 8 positive signals and 8 negative signals, they suggest a more cautious approach. This indicates that while there are positive indicators for the company, there are also factors that raise concerns.

As of the last closing, NVIDIA Corporation’s stock price stood at USD 893.98. Over the past week, the stock price has experienced a slight decline of -2.74%. However, looking at a broader timeframe, the stock has shown remarkable growth, with an increase of +23.12% over the past month and an impressive surge of +247.51% over the last year. This substantial growth highlights NVIDIA’s strong performance in the market and reinforces the positive sentiments of many analysts.

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