Is Nvidia Stock a Buy Now?
The first half of 2023 has been terrific for investors in Nvidia (NASDAQ: NVDA) as shares of the chipmaker have shot up 195%, driven largely by the company's artificial-intelligence powered growth that has helped it overcome the weakness in the personal computer market.
Nvidia is on track to deliver outstanding revenue and earnings growth in the ongoing fiscal year 2024 (which began on Jan. 30, 2023). Analysts are anticipating a 59% jump in revenue to roughly $43 billion, while adjusted earnings per share (EPS) are forecast to jump to $7.78 from $3.34 in the year-ago period.
But according to a consensus of 43 analysts covering the stock, it has a median price target of $464. That points toward gains of just 10% from current levels.
Source Fool.com