NVDA Stock Forecast: Analyzing the Surge in NVDA Stock

June 3, 2024
Levi FuThis NVDA Stock Forecast article was written by Levi FU – Financial Analyst at I Know First.

Summary

  • According to the FY24Q4 earning report, Nvidia’s revenue was 26.04 billion, showing an YoY increase of 262% and a QoQ increase of 18%, above Bloomberg consensus of US 24.69 billion. 
  • Demand for the Nvidia HGX platform based upon the H100 is strong, continuously driving the growing momentum of the data center segment.
  • NVIDIA's announcement of 10-for-1 stock split and 150% dividend increase, coupled with strong earnings, raised its share price to USD 1,007 during after-hours trading on the day of earning release.
  • DCF estimates NVDA stock around $1253, a 14% upside potential for the upcoming year of 2024.

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