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The artificial intelligence (AI) leader's sales and earnings have continued to expand at an impressive pace, and the company's share price is up roughly 180% so far this year.
That led to a 171% increase in Nvidia's stock price in 2024. It also pushed the stock's price-to-sales ratio to 30. Those who might think that means the stock is now too expensive should look at ...
Nvidia is up 850% since early last year, as of this writing, but it has also seen a commensurate increase in its valuation. The company currently has a price-to-earnings (P/E) ratio of 55, well ...
Nvidia stock has seen a surge in volatility, dropping 16% since it reported earnings last week. Technical analysts have highlighted key support levels for the stock price at $100 and $90.
Bank of America reiterated a buy rating on Nvidia stock and raised its price target to $190, implying its market cap could explode to $4.7 trillion.
Nvidia is growing so quickly its stock looks quite affordable based on one widely-used valuation metric, as long as investors maintain a long-term outlook.
Of the 63 sell-side analysts that cover Nvidia, 59 rate the stock a Buy or Strong Buy, Yahoo Finance data shows. The average price target stands at $160.38, about 13% above current levels.
Consensus estimates (which can be tracked on Yahoo Finance here) are on the rise (again), and the Street remains steadfast in its appetite for jacked-up price targets.