The drops came after Tuesday's rally reversed itself following statements by the Federal Reserve indicating that heavy impacts on the economy from the coronavirus were not over. NVIDIA's shares closed at $485 yesterday and dropped in pre-market hours today even as the company posted strong quarterly results. Out of the six analyst notes from Barclays, Oppenheimer, Mizuho, Citi, RBS and Piper Sandler released since NVIDIA's earnings report yesterday, Oppenheimer has the highest price target for the company. Huang is well-known for his support of Ethereum and its value, seeing more room for growth working with the cryptocurrency space in the future.Ī solid technical and analyst projection has led us to put the company in our best 5G stocks list, which is based on the opinions of trading professionals.NVIDIA Price Targets Raised Following Strong Performance & Strong Expectations For Upcoming Gaming Cycle

Moreover, Jensen Huang, CEO of Nvidia, along with his team have developed a new product called CMP designed for professional crypto mining. The technology firm is set to close the deal in Q3 2021, as it seeks to strengthen its autonomous car technology division. Looking ahead, Nvidia bought DeepMap, an Israeli firm that specializes in high-definition mapping solutions for mobile devices back in June. Notably, twenty-seven TipRanks analysts advocate buying Nvidia, while just one recommends holding the stock based on its performance over the previous three months, and only one suggests selling.Īs a result, most analysts believe Nvidia is a strong buy, with an average price target increase of 1.83% from its current price of $222.13 but with a potential $300 highest price target.

Nvda price target 2020