Nvidia shares now up around $100 or 10.51%

Shares of Nvidia are trading up close to $100 or 10.5% at $1050. The last time the price has traded with such gains was back in February after the last earnings report when the shares moved up 16.4%. Another big move in Nvidia was a near 25% move after earnings back in May 2023

Prior to the earnings release yesterday, markets were pricing in an 8% move. The price action today has surpassed that expectations.

Shares are trading at a new record high.

After the big moves last quarter – and back in March 2023 – the price momentum continued for the next few days before the price consolidated and corrected modestly.

There have been upwards of 24 price adjustments.

• Goldman Sachs: Raises PT to USD 1,200 (prev. 1,100) and keeps a ‘Buy’ rating.
• JPMorgan: Raises PT to USD 1,150 (prev. 850) and keeps an ‘Overweight’ rating.
• Mizuho: Raises PT to USD 1,180 (prev. 1,000) and keeps a ‘Buy’ rating.
• Wolfe Research: Raises PT to USD 1,250 (prev. 1,200) and keeps an ‘Outperform’ rating.
• Barclays: Raises PT to USD 1,200 (prev. 1,100) and keeps an ‘Overweight’ rating.
• Wells Fargo: Raises PT to USD 1,250 (prev. 1,150) and keeps an ‘Overweight’ rating.
• Melius Research: Raises PT to USD 1,250 (prev. 1,125) and keeps a ‘Buy’ rating.
• Citi: Raises PT to USD 1,260 (prev. 1,030) and keeps a ‘Buy’ rating.
• Cantor Fitzgerald: Raises PT to USD 1,400 (prev. 1,200) and keeps an ‘Overweight’ rating.
• KeyBanc: Raises PT to USD 1,300 (prev. 1,200) and keeps an ‘Overweight’ rating.
• UBS: Raises PT to USD 1,200 (prev. 1,150) and keeps a ‘Buy’ rating.
• Evercore ISI: Raises PT to USD 1,310 (prev. 1,160) and keeps an ‘Outperform’ rating.
• BofA: Raises PT to USD 1,320 (prev. 1,100) and keeps a ‘Buy’ rating.
• Stifel: Raises PT to USD 1,140 (prev. 1,085) and keeps a ‘Buy’ rating.
• Piper Sandler: Raises PT to USD 1,200 (prev. 1,050) and keeps an ‘Overweight’ rating.
• Benchmark: Raises PT to USD 1,350 (prev. 1,000) and keeps a ‘Buy’ rating.
• Susquehanna: Raises PT to USD 1,200 (prev. 1,100) and keeps a ‘Positive’ rating.
• Needham: Raises PT to USD 1,200 (prev. 850) and keeps a ‘Buy’ rating.

via GIPHY

This article was written by Greg Michalowski at www.forexlive.com.