Despite recent volatility, NVIDIA has received numerous target share price increases

June 27, 2024 at 9:37 AM Author: Brandon Evans, SA News Editor

The stock price of NVIDIA (NASDAQ: NVDA) has been volatile since the stock split on 6/10, but investment companies have continued to raise the stock price of the company, which is the leader of artificial intelligence chips.

The new price targets range from $140 to $200.

Rosenblatt set the tone for the bullish market for the company's stock and boosted the stock price on 6/18 from 140 dollars to 200 dollars. This coincided with the period when NVIDIA temporarily overtook Microsoft (MSFT) and (AAPL) and became the number one company in the world with a total market capitalization of 3.3 trillion dollars. In pre-market trading on June 27, the total market value returned to 3.1 trillion dollars.

Constellation Research also set a target price of 200 dollars for this stock on 6/26, and it is predicted that it will rise 65% over the next year.
Cantor Fitzgerald set a 12-month target price for this stock at $175 on 6/27.
Citi raised its target share price from 126 dollars to 150 dollars on 6/26.
Jeffries also raised the target price of the company's shares from $135 to $150 on 6/24.
Oppenheimer analysts also joined this group and raised NVIDIA's target stock price from $110 to $150 the day after the company's stock split.
Truist Securities raised its target stock price from 128.80 dollars to 140 dollars on 6/27.
Bank of America analysts discovered that a company's stock price rose by an average of 18% in the year after the stock split.

Nvidia's stock price more than tripled in the year leading up to the company's 10-1 stock split. However, it has fallen 3% over the past few sessions, and its market capitalization has declined by more than $400 billion.
Still, despite the recent decline, the company's stock price has risen 13% over the past month. Furthermore, it has risen 155 percent year to date, and it has recorded the second strongest performance in the S&P 500 index. Next to this is Supermicro Computer (SMCI), whose stock price has surged 192% since January 1.