Nvidia NVDA stock up today

Nvidia stock jumps 5.1% after Goldman Sachs analyst raises price target to $800. Is it time to buy? Full analysis report available.

Nvidia's shares surged 5.1% in the morning session after Goldman Sachs analyst Toshiya Hari raised the price target on the company's stock from $625 to $800, while maintaining a Buy rating. This represents a potential 16% upside from the current trading price. The analyst emphasized Nvidia's position as the industry gold standard, attributing this to its strong hardware and software offerings, as well as its consistent pace of innovation.

Following the initial increase, the shares settled at $689.21, marking a 4.2% increase from the previous close. The question arises: is now the time to buy Nvidia? The market's response to the news suggests that it is considered significant, but not transformative to the company's overall perception.

In the context of volatility, Nvidia's shares have experienced 10 moves greater than 5% in the past year. The most recent significant move occurred 28 days ago, when the company gained 5.1% after reports that several Chinese electric vehicle brands would be utilizing Nvidia's DRIVE technology for their automated driving systems. This platform is designed to enable vehicles to perceive and respond to their environment, indicating potential growth opportunities for Nvidia in the booming Chinese EV market.

Year-to-date, Nvidia's shares have risen by 43%, demonstrating strong performance. For investors who bought $1,000 worth of Nvidia's shares 5 years ago, the investment would now be valued at $18,377.

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