For more than a year and a half, Nvidia (NASDAQ: NVDA) has been one of the top-performing stocks in the market. The semiconductor giant’s market capitalization has increased by around $2.7 trillion since the AI boom began in late 2022 with the launch of ChatGPT. NVDA’s impressive growth has consistently surpassed analyst forecasts, with its stock price reaching new highs. In June, the company implemented a 10-for-1 stock split after its shares rose above $1,200.
However, Nvidia’s performance has slowed down recently, and its shares have only gained a modest 4.09% in the last 30 days. Currently, NVDA stock is priced at $125.38.
Despite concerns that Nvidia is contributing to an AI bubble and could experience a 98% crash, Wall Street analysts remain bullish on the stock. NVDA is considered a “strong buy” by 37 out of 41 experts on the stock analysis platform TipRanks, while the remaining 4 are neutral and none recommend selling.
The average price target for the next 12 months is relatively conservative compared to Nvidia’s past performance. Analysts expect the stock to rise by another 8.47% to $136.49.
However, Rosenblatt Securities predicts a much larger upside of 58.94% and a 12-month target price of $200. On the other hand, experts at D.A. Davidson believe NVDA stock could drop significantly to $90 within the same timeframe.
In July, rating revisions have been cautious, with Morgan Stanley predicting a slightly above-average upside to $144 and Bernstein settling for a more cautious $130. New Street Research changed its position on July 7 from “buy” to “neutral.”
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