Nvidia Stock Struggles, But Analysts See Strong Upside
Nvidia’s stock has been on a rollercoaster ride, bouncing back from a low of $106.98 on March 10 to reclaim lost ground with a 13.5% recovery.
The stock hit a key resistance level of $120 twice, on March 14 and March 24, but failed to sustain its gains, retreating shortly after each attempt.
On March 26, Nvidia led losses in the S&P 500, shedding 5.47% and dropping to $113.76. As of the latest trading session, shares are hovering around $111.98, marking an 11.57% drop over the past month and extending year-to-date losses to 16.61%. The sharp decline has fueled concerns that the stock could break below $100, potentially triggering a broader selloff.
Despite recent struggles, Wall Street analysts remain overwhelmingly bullish on Nvidia’s long-term potential. Data from TipRanks shows that among 42 analysts covering the stock, 39 rate it a ‘buy,’ three suggest holding, and none recommend selling.
Price targets for Nvidia vary widely, with the most conservative estimate at $125 and the most optimistic projection at $220. The average price target stands at $176.54, indicating a potential 55.19% upside. Even the lowest forecast suggests a modest 11.62% gain, while the highest implies a near-double surge of 96.46%.
These figures have barely changed from February’s consensus outlook, which set a 12-month target at $178.66.
READ MORE: Morgan Stanley Strategist Predicts Stock Market Rally Will Fade, Warns of Volatility Ahead
Although Nvidia’s recent GPU Technology Conference (GTC), held from March 17 to March 21, showcased several new products, it failed to generate significant enthusiasm among investors. However, nine analysts have since reaffirmed their previous ratings and price targets, showing no change in their long-term confidence.
The only notable revision came from DA Davidson’s Gil Luria, who maintained a neutral stance and lowered his price target from $135 to $125, citing caution over Nvidia’s future growth projections.
On the other end of the spectrum, Rosenblatt’s Kevin Cassidy and Tigress Financial’s Ivan Feinseth set the highest price target at $220, citing strong demand for Nvidia’s Blackwell chips and increased AI-related spending as key drivers for growth.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
