Nvidia (NASDAQ: NVDA) stock has been in phenomenal form over the past year, gaining a stunning 259% thanks to its eye-popping revenue and earnings growth on the back of the booming demand for its artificial intelligence (AI) chips.

The consensus estimates on Wall Street suggest that Nvidia stock may now be priced for perfection. According to the estimates of 60 analysts covering Nvidia, the stock's median one-year price target is $970. That's close to its current stock price of $962. However, it is worth noting that 88% of the analysts covering Nvidia still rate the stock as a buy.

What's more, its Street-high price target of $1,400 points toward a 45% jump from current levels over the next 12 months or so. But could this high-flying AI stock really sustain its rally and hit that level in the coming year?

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Source Fool.com