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HomeFinance NewsAnalyst Ivan Feinseth Predicts Nvidia Stock to Reach $820

Analyst Ivan Feinseth Predicts Nvidia Stock to Reach $820

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Nvidia (NASDAQ:NVDA) has been unstoppable in the market, driving an AI-themed rally and consistently delivering impressive earnings reports. With shares surging by 66% year-to-date and reaching record highs, analyst Ivan Feinseth from Tigress Financial believes that Nvidia’s winning streak is far from over. Feinseth rates NVDA shares a Buy, with a price target of $985, suggesting a potential growth of 20% over the coming year. Nvidia’s success is attributed to its Data Center segment, where revenue grew by an impressive 409% year-over-year, showcasing its best-in-class AI chips and numerous collaborations with industry giants like Google and Amazon.

In addition to its Data Center success, Nvidia also saw a recovery in its Gaming segment, with revenue surging by 56% year-over-year. The company rolled out the GeForce RTX 40 SUPER Series GPUs and introduced advanced technology such as DLSS 3.5 Ray Reconstruction and NVIDIA Reflex. With over 500 AI-powered RTX games and applications using Nvidia’s technologies, the company continues to be at the forefront of AI adoption in various industries. Feinseth believes that Nvidia is a core holding in the AI investment theme and one of the best ways to play the accelerating adoption of AI in technology and applications.

Feinseth is just one of many analysts bullish on Nvidia, with a Strong Buy consensus rating from 37 analysts. With an average price target of $886.52, the stock is expected to trade at a premium of 8% a year from now. Nvidia’s continued success and strategic partnerships indicate a promising future for the company as it remains a leader in AI innovation across various sectors.

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