Ian Cooper’s Stock Pick of the Week

Chart of Day: Revisiting Nvidia (NVDA)  

About two weeks ago, we said: 

“Shares of Nvidia (NVDA) will soon trade at a tenth of its current price tag. Post-split, we don’t expect for the stock to stay down for long. With the artificial intelligence boom and powerful earnings fueling momentum, NVDA could easily run right back to $1,000 in a few months.” 

Post-split, NVDA traded at $120.44. Today, it’s up to $135.58. 

And the run is far from over. 

According to analysts, NVDA still has plenty of room to run. 

Argus Research just raised its prices target on NVDA to $150 from $110 with a buy rating. Oppenheimer raised its target to $150 from $110 with an outperform rating. And Evercore ISI

raised its target to $145 from $131 with an outperform rating. 

However, NVDA isn’t the only hot stock to consider these days. 

Shopify (SHOP) is starting to push aggressively higher, too. Helping, analysts at JMP Securities just upgrade the stock to an outperform rating, with a price target of $80. 

“Our upgrade is driven by the potential for new merchant cohorts to contribute in 2025 and beyond, Plus, subscription price increases coming on in 2H24, and our belief that the company remains a best-in-class eCommerce platform that is taking share and has multiple adjacencies across financial services, advertising, and merchant services,” said the firm, as quoted by CNBC.

Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies

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