Nvidia Corporation nasdaq Nvda Stock Climbs on Goldman Sachs' Price Target Upgrade

NVIDIA Corporation (NASDAQ: NVDA) Stock Climbs on Goldman Sachs’ Price Target Upgrade

NVIDIA Corporation (NVDA), the world’s most valuable chipmaker, saw its shares climb more than 2% on May 26th. This boost came after Toshiya Hari, an analyst at Goldman Sachs, reiterated his Buy recommendation for the company and raised the price target for NVDA.

Goldman Sachs analyst Toshiya Hari increased the price target for NVIDIA Corporation from $275 to $440. This aligns with the median target price of $450.00 predicted by 42 analysts for NVIDIA Corp. The highest estimate is $600.00, while the lowest is $191.90.

On the other hand, Benzinga has reported that a total of 120 analyst firms are tracking NVIDIA, and the average price target among them is $370.77. Additionally, according to TipRanks, in the past three months, 37 Wall Street analysts have provided 12-month price targets for NVIDIA. The average price target among them is $296.29, with the highest forecast being $440.00.

This development follows NVIDIA Corporation’s impressive financial performance for the current quarter, reporting earnings per share of $1.92 and sales of $10.5 billion. These figures indicate strong growth and profitability for the company.

Investors eagerly await NVIDIA Corp’s next earnings report, scheduled for August 17, which will provide further insights into the company’s financial performance and growth prospects.

As of Friday, NVDA shares closed at $389.46, accompanied by a trading volume of 154,391,067 shares. The stock experienced a 2.54% surge compared to the previous trading session, fluctuating throughout the day between $366.35 and $394.80. Currently, NVIDIA Corporation’s market capitalization stands at $773.2B.