The Street: NVDA Stock Quote

Strong agreement among analysts about Nvidia's (NVDA) ability to report better earnings than they predicted earlier strengthens the view that the company's stock has potential upside. While investors making investment decisions solely based on a tool like this would arguably do themselves a disservice, an impressive average price target is not the only indicator of a potential upside for NVDA.

While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. In fact, the smaller the standard deviation, the greater the agreement among analysts. It's more important to note the standard deviation here, as it helps understand the variability of the estimates.

The average comprises 23 short-term price targets ranging from a low of $187.50 to a high of $400, with a standard deviation of $63.15. The mean price target of $305.85 indicates a potential upside of 29.4%. Meanwhile, the lowest estimate suggests a decline of 20.7% from the current price level, while the most optimistic estimate points to a 69.2% upside.

Nvidia closed its last trading session at $236.42, gaining 1.2% over the past four weeks. However, there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. With a strong agreement among analysts and an impressive average price target, investors may want to consider taking a closer look at NVDA's potential for growth.

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