Nvidia (NASDAQ:NVDA) stock is a hot topic among traders on Thursday after the company’s shares briefly surged above $500 this morning.

That saw the company’s stock start out trading this morning with a high of around $502 per share. However, the company’s shares couldn’t maintain that price and have fallen back below the $500 mark. Even so, NVDA stock is still up 1.3% as of this writing.

The gains that NVDA stock is seeing today are the result of Nvidia’s latest earnings report. The company posted EPS of $2.45 and revenue of $13.5 billion during the second quarter of the year. These figures are both above Wall Street’s estimates for EPS of $2.08 per share and revenue of $11.2 billion for the period.

The positive Nvidia news and stock movement this morning kicked off a rally among other artificial intelligence (AI) stocks as well. That has several companies moving in sympathy with NVDA stock during early morning trading today. It even saw Wedbush Securities analyst Dan Ives call the earnings report a “historical moment” for the tech sector.

What’s Next for NVDA Stock?

If analysts are right, there’s plenty of room for growth left in NVDA stock. Let’s get into where analysts believe shares will be priced one year from now.

• Starting us off is Rosenblatt Securities analyst Hans Mosesmann with a bullish price target of $1,100.
• Next is KeyBanc Capital Markets analyst John Vinh and his $670 price prediction for NVDA stock.
• WestPark Capital analyst Kevin Garrigan also holds a bullish price target for Nvidia at $690 per share.
• Finally, BMO Capital Markets analyst Ambrish Srivastava set a price target of $600 for the company.

Investors keeping track of the latest stock market news today are going to want to keep reading!

We have all of the biggest stock market stories that traders need to know about on Thursday! Among that is why shares of Snowflake (NYSE:SNOW), Palantir (NYSE:PLTR) and Splunk (NASDAQ:SPLK) stock today. All of that news is available at the following links!

More Thursday Stock Market News

• Snowflake (SNOW) Stock Is Sliding Despite AI Hopes
• Nvidia Thrusts Red-Hot Palantir (PLTR) Stock Into the Spotlight Today. Here’s Why.
• Is Splunk (SPLK) Stock the Next AI Giant?

On the date of publication, William White did not hold (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.