Can Nvidia stock hit $1000 after another monster guide? These analysts think so
Investing.com — Nvidia (NASDAQ:NVDA) stock surged after the AI chipmaker reported earnings after the close Wednesday that topped analyst consensus. The question for investors and analysts now is whether the stock can hit $1,000 per share as the AI momentum continues.
Nvidia reported a fourth-quarter profit of $5.16 per share, $0.55 better than the analyst estimate of $4.61, while revenue for the quarter also came in above expectations at $22.1 billion versus the consensus estimate of $20.55 billion. Nvidia's revenue rose 22% from Q3 and a substantial 265% from a year ago.
«Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,» commented Jensen Huang, founder and CEO of Nvidia.
Meanwhile, the company's guidance was also positive, with Nvidia saying it sees Q1 2025 revenue of $24 billion versus the consensus of $22 billion.
«January quarter results of $22B hit the low-end of whispers numbers of $22-$23B and outlook of $24B is also at the lower end of the $24-$25B whisper number but was enough to offset the cautious sentiment and commentary heading into the print,” Kinngai Chan, senior analyst at Summit Insights Group, told Investing.com.
Following the report, NVDA's share price jumped more than 13% in after-hours trading. Premarket Thursday, it is up 12.7% at $760.80 per share.
While the stock had taken a slight dip ahead of the release, falling from around $746 to a low of approximately $662 per share on Wednesday, it has still made an enormous gain in the last year, climbing more than 221%.
In fact, since January 2023, the stock has been driving higher.
According to KeyBanc, Nvidia shares can climb above $1,000 per share.
The firm told
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