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NVDA Stock Price Predictions: Nvidia $800 Target

Nvidia stock surges as Goldman Sachs raises price target to $800 per share, expecting 20.9% growth over next 12 months.

Nvidia (NASDAQ:NVDA) stock is on the rise today as Goldman Sachs analysts have set a new price target for the company's shares. Toshiya Hari, the analyst at Goldman Sachs, has increased the price target for NVDA stock from $625 per share to $800 per share. This suggests a potential growth of 20.9% for the company's shares over the next 12 months, which is significantly higher than the analysts' consensus of $612.68 per share.

In addition to the price target increase, Hari has also reiterated his "buy" rating for Nvidia's shares. This is in contrast to the analysts' consensus rating of moderate buy based on 39 opinions.

Hari's note to clients obtained by CNBC provides further insight into the rationale behind the price target increase. He expects Nvidia's upcoming financial results to demonstrate the ongoing shift in wallet share from general-purpose compute (i.e. CPU) to accelerated computing (i.e. GPU) in its core Data Center segment.

As a result of this news, NVDA stock is up 3.1% as of Monday morning and has seen a 37.4% increase year-to-date as of Friday's close.

For more of the latest stock market stories, investors can stay tuned for updates on shares of Polestar (NASDAQ:PSNY), NanoString Technologies (NASDAQ:NSTG), and Cano Health (NYSE:CANO) stock. These and other market news can be found at the links below. Stay informed and stay ahead in the stock market!

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