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Nvidia Stock (NASDAQ: NVDA) – Price Targets & Competitors

Sam Boughedda trader
Updated 12 Jun 2024

Nvidia stock (NASDAQ: NVDA) has recently complete a 10-for-1 split. This is usually a bullish action, and is intended to make the stock price more affordable. What it means for price targets and forecasts is that the old numbers still priced in the $1000’s will be divisible by 10.

Nvidia is a semiconductor company founded in 1993. The company is especially known for its innovative Graphics Processing Units (GPUs), which power high-performance computing for gaming, artificial intelligence, and professional graphics.

Nvidia’s mission is to “develop high-performance computers.” The company’s products include GeForce graphics cards for gamers, data center GPUs for AI and scientific computing, and DRIVE platforms for autonomous vehicles. The company is led by CEO Jensen Huang. Nvidia trades on the Nasdaq stock exchange under the ticker symbol NVDA.

Nvidia Share Price Forecast

According to data compiled by TradingView, 53 of 60 analysts covering Nvidia have a Buy rating, and 7 have a Hold rating on the stock. 

Upgrades have been made thick and fast in the wake of the stock split, with six notable price raises in the two days post.

Evercore ISI raise to $145 (from $131) on their 2030 bull case EPS estimate of $7.8, and bull case of $10. Argus raise to $150 (from $110) as they see continued momentum through 2025.

Oppenheimer ($150 from $110), TS Cohen ($140 from $120), Susquehanna ($145 from $120), and Barclays ($145 from $120), are the other names to have pushed up their Nvidia price targets as the bulls show no signs of changing tact.

Prior to the split, some of the other forecasts to come off the street also support the bull case.

In a research note, a Jefferies analyst assumed coverage of Nvidia with a Buy rating and a $1,200 price target, up from $780 per share. The Jefferies analyst assumed coverage of various semiconductor stocks with a bullish long-term view into a strong upcycle with duration. He cited a belief that the group is “still early in the cycle” and that this one is probably stronger with AI.

HSBC increased its price target for Nvidia to $1,350 from $1,050 in a recent research note, maintaining a Buy rating on the company’s shares. The bank said it believes Nvidia will continue to show its strong pricing power through its NVL36/NVL72 server rack system and GB200 platform, which it claims “will once again surprise the market on the upside in FY26.” HSBC is now “even more bullish” as it believes Nvidia now has the potential to see FY26 revenue of $196 billion based on the average selling price for the NVL36/NVL72 server rack of $1.8 million/$3 million and a total server rack unit assumption of 35,000.

Our View: Nothing has been able to stop the AI-related rally for Nvidia’s stock over the last couple of years. While it’s impossible to tell how long the rise will continue, investors should be aware that there will inevitably be a pullback and decline at some point, so finding an attractive entry point is key if they are interested in investing in Nvidia. 

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NVDA Share Price & Chart

Between 2023 and into 2024, the Nvidia share price rocketed as the emergence of artificial intelligence provided the company with a substantial boost. Its chips are utilised extensively across AI infrastructure and products. Whether and for how long the AI rally will continue over the next few months is anyone’s guess, but for now, Nvidia shares are riding the wave.

P/E Ratio Average Over the Last Ten Years: 49.71 (Source: FullRatio)

Nvidia EPS and Revenue Breakdown 2020-2024

NvidiaAnnual EPSAnnual Revenue
2020$1.73 $16.68 billion
2021$3.85 $26.91 billion
2022$1.74 $26.97 billion
2024$11.93$60.92 billion

Semiconductor Industry Comparison


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Who Should Buy Nvidia Shares

For many investors, Nvidia is a great investment. However, it may not be suitable for everyone’s portfolio. Here’s a breakdown of who might be more suited to owning Nvidia shares:

Nvidia is a leader in a rapidly growing field – artificial intelligence (AI). Investors who believe AI will continue to revolutionise various industries may find Nvidia attractive. A long-term view allows investors to ride out potential short-term stock price swings.

At the same time,investors seeking companies with the potential for significant (continued) growth may find Nvidia appealing. However, it should be noted that growth stocks can be more volatile than established companies.

Nvidia can be a compelling investment for investors who are passionate about technology and excited about GPUs’ potential in areas like gaming, AI, and self-driving cars.

The semiconductor industry can be cyclical, and Nvidia’s stock price can fluctuate. Investors should be comfortable with an increased level of risk.

Nvidia has recently started paying a small dividend, and has also announced a 10-1 stock split in an attempt to provide further shareholder value, and improve accessibility in light of the growing price. 

Nvidia News

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.