Metaverse technology has overtaken the national conversation. As it prepares to do the same to financial markets, companies are working around the clock to adapt their technology to help them cash in on the trend. Some companies have already seen significant growth as the season has progressed. Graphics processing unit producer Nvidia (NASDAQ: NVDA) recently had some great news for investors as it reported a record-breaking $7.1 billion in revenue for the third quarter of 2021. This outstanding year has experts taking a bearish stance on Nvidia stock as they consider the utility of the company’s products for a tech sector that is quickly moving toward a metaverse-centric future.
InvestorPlace’s Louis Navellier recently expanded on this type of growth potential, attributing it to “relentless innovation.” He also touted the company CEO’s vision for the future, noting that it “promises to propel the company into the future with leading-edge products and, very likely, robust revenue streams.”
What are some other experts saying about the future of Nvidia’s stock price? Let’s find out.
Nvidia Stock Price Predictions: What Can We Expect?
Looking at the analyst coverage of Nvidia stock, one theme is abundantly clear. Analysts think that this stock is a buy.
- Stacy Gason of Bernstein has initiated a strong buy position on Nvidia stock and set a price target of $360. The upside he sees is almost 14%. While he notes that “it’s hard to imagine things going smoother” for Nvidia, he also acknowledges that such a high price is worth keeping an eye on.
- David Williams of Benchmark Co. is even more bullish on it, setting a price target of $365 with an upside potential of over 15%.
- John Vinh of KeyBanc, Harlan Sur of J.P. Morgan and Richard Shannon of Craig-Hallum have all issued buy ratings for Nvidia stock and set the same price target of $350. C.J. Muse of Evercore ISI has the same price target and foresees a “long runway of growth ahead of Nvidia.”
- Mark Lipacis of Jeffries increased his price target to match those who had set theirs at $350. “We think virtual reality will find its way into numerous other applications not yet fully comprehended by the market,” he stated.
- Ross Seymore of Deutsche Bank (NYSE:DB) issued a hold rating and set a lower price target of $285. He is also the only name on the list to forecast a downside from here of -9.77%.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.