Is Nvidia Stock Going to $200 in the Wake of Its 10-for-1 Stock Split? 1 Wall Street Analyst Thinks So
It's impossible to ignore the effect artificial intelligence (AI) has had on the technology landscape over the past year or so, and Nvidia (NASDAQ: NVDA) has been the standard bearer. The company's chips are at the heart of the AI revolution, providing the computational horsepower that makes it all possible. This, in turn, has sent the stock soaring, up 215% over the past year. These gains led to Nvidia's high-profile 10-for-1 stock split, which was completed just last week.
After the stock's epic run to a $3 trillion market cap, Wall Street is reevaluating Nvidia's future prospects. There's a new price target from one analyst that should be of particular interest to shareholders.
Rosenblatt Securities analyst Hans Mosesmann reiterated his buy rating on Nvidia stock and increased his price to $200. That represents potential upside for investors of 53% compared to Monday's closing price, and would push Nvidia's market cap within striking distance of $5 trillion. One aspect of Nvidia's business that's being overlooked by investors is the software side. "The real narrative lies in the software that complements all the hardware goodness," the analyst wrote.
Source Fool.com
