Nvidia Stock Could Reach $500 by 2031 Despite Modest Growth

Nvidia's stock price has been surprisingly steady despite its explosive revenue growth. The company reported $96.22 billion in revenue, up 105.85% year-over-year, but its stock price only rose 20.86% this year.

Analysts are divided on what this means for the future of Nvidia's stock, with some predicting a significant increase to $500 by 2031. To reach this target, Nvidia would need to experience a gain of 122.4%, or about 17.3% per year.

The forecast already implies a forward P/E ratio of 32x, but the analysts' consensus is that Nvidia's stock could expand another 6x, reaching a multiple of 38x and resulting in a price target of $500.