Nvidia (NVDA) shares surged after the chipmaker's 澳洲幸运5官方开奖结果体彩网:better-than-expected earnings, but analysts indicated the chipmaker's stock may s🅘till have a ways to go before r𒁃eaching its peak.

Nvidia shares were up 11% at $1,053.97 as of 1 p.m. ET Thursday. They've more than doubled in value since the start of the year, significantly outpacing gains for the 澳洲幸运5官方开奖结果体彩网:S&P 500 and the 澳洲幸运5官方开奖结果体彩网:Nasdaq 100, which h♏ave climbed close to 🌊12% over the same period.

Analysts' New Price Targets

Analysts at UBS, Bank of America, Citi, Jefferies, JPMorgan, Wedbush, Melius Research, Bernstein, and Mizuho all lifted their price targets for Nvidia after the chipmaker's earnings release.

Bank of America and Jefferies were among those with the highest new targets, at $1,320 and $1,350, respectively. Bernstein followed with $1,300, up from $1,000 previously.

Citi increased its objective to $1,260 from $1,030, while Melius Research lifted its to $1,250 from $1,125, and UBS raised its target to $1,200 from $1,150. Wedbush also raised its target to $1,200, up from $1,000.

On the lower end, Mizuho's objective increased to $1,180 from $1,000, while JPMorgan lifted its target to $1,150 from $850.

'A Lot of Gas Left in This AI Tank'

Analysts at Melius Research wrote that they "can't help feeling Nvidia left a lot of gas in their tank to beat and raise from here."

The analysts cited 澳洲幸运5官方开奖结果体彩网:Blackwell-driven revenue, strong demand for H200 and Blackwell, an anticipated "positive mix shift to more richly configured systems with Blackwell," and revenue from 澳洲幸运5官方开奖结果体彩网:sovereign AI initiatives.

Melius also noted that the chipmaker is likely "still in the very early innings of becoming multi-billion dollar businesses within 2 years" in its networking and software segments.

Wedbush analysts wrote that "NVDA [is] seemingly hitting the 'fast forward' button," adding that they "see no reason to moderate [Wedbush's] enthusiasm around NVDA."

Bernstein analysts reportedly said that the stock is "relatively inexpensive (~35x on forward earnings that are going up again today) with a narrative that is clearly nowhere near its end." The analysts wrote that the company is "likely nowhere near its peak."