Nvidia Stock Rises After Price Target Increase
Nvidia (NASDAQ: NVDA) shares rose 2% on Thursday morning, spurred by analysts at Tigress Financial Partners who raised the company’s price target to $400. This adjustment highlights Nvidia’s ongoing transformation from a gaming hardware provider to a leader in artificial intelligence (AI) hardware.
Tigress reported that Nvidia’s third-quarter revenue surged by 50% year-over-year to $7.1 billion, with gaming revenue climbing 42% and data center revenue increasing by 55%. The firm’s optimism stems from heightened demand for Nvidia’s AI solutions, supported by adoption from over 25,000 companies.
