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NVIDIA shares hit record highs as price targets rise toward Q3
Analysts cited a record-breaking breakout in early October, with some targets as high as $515 and earnings growth estimates near 70% heading into Q3 results.
NVIDIA shares climbed to new all time highs in early October, breaking out of a prior trading range and extending the rally as the company heads toward its Q3 results, according to MarketBeat Ratings.
The outlet also pointed to raised analyst price targets, including a figure as high as $515, alongside expectations for earnings growth estimates near 70%, which it said strengthens the case for continued upside ahead of the report.
MarketBeat Ratings further framed the move as a technical breakout, projecting that the stock could gain by solid double digits in the near term and by high triple digit amounts over the longer term, based on the prior range’s magnitude and prior rally.
The article also references NVIDIA’s scale, calling it a roughly $5.7 trillion company and discussing a potential path to a $10 trillion valuation, with that scenario described as possible within the next year or two.