Nvidia (NASDAQ:NVDA) stock is seeing major movement on Thursday as several analysts weigh in on the company following its earnings report.
Leading this charge is JPMorgan and its $500 price prediction for NVDA stock. Harlan Sur, the analyst behind this price target, also reiterated his “overweight” rating for NVDA alongside this new price target.
To go along with that, Evercore analyst C.J. Muse likewise set a $500 price target for NVDA shares. The analyst continues to maintain an “outperform” rating for Nvidia stock following the price prediction increase.
Finally, Barclays joined in on today’s NVDA rally as it also set a $500 price prediction for the stock. Just like the other two analysts, Barclays analyst Blayne Curtis stuck with the firm’s current rating for shares, which is “overweight.”
Will NVDA Reach $1 Trillion?
It seems likely that Nvidia’s valuation is going to reach $1 trillion sooner or later. The company only needs its shares to close out at $404.86 for it to hit the milestone. That seems completely reasonable considering all the $500 price targets we just discussed.
Investors will also keep in mind that NVDA is a good way there with its current earnings rally. As of this writing, the company’s shares are trading for about $382 per share. NVDA reached that price with a 25% climb as of Thursday morning.
Investors looking for more of the latest stock market news will want to keep reading!
Plenty of stocks are rising today as Nvidia’s rally lifts other shares in the artificial intelligence (AI) sector. A few examples of that include the latest movement for Mobileye (NASDAQ:MBLY) and C3.ai (NYSE:AI), as well as more details on NVDA. You can find all of this at the following links!
More Thursday Stock Market News
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.