Shares in Nvidia (NVDA) rallied while many of its competitors fell sharply on Monday, indicating investors view the semiconductor giant as first in its class.
Morningstar analyst Abhinav Davuluri recently wrote: “After taking a fresh look at our thesis on Nvidia, we are raising our gap rating from narrow to wide, thanks to intangible assets related to the design of graphics processing units (GPUs). ”
Nvidia recently traded at $757.42, an increase of 4%. It has jumped 47% in the past six months amid its strong financial performance.
Earlier this month, Nvidia received an expected price increase by Truist from $768 to $910, based on data center trends and monetization software.
In addition, KeyBanc analyst John Vinh increased Nvidia’s one-year price target from $775 to $950.
Ambrish Srivastava, an analyst at BMO Capital Markets, raised his chip titan price target of $975 to a Wall Street high of $1,000.
Analysts have raged on Nvidia since the company’s first-quarter results came in better than expected.