The Consensus On NVIDIA Is Still Pretty Positive

NVIDIA Corporation NVDA reported fourth quarter results which sparked one of the most hotly contested debates so far in 2017: Has the stock, which gained more than 300 percent over the past year, peaked?

Cramer: A 'Frighteningly Positive Story'

Jim Cramer argued investors should look at Nvidia as a "market cap situation" and not an "earnings situation."

He emphasized the fact that "everything runs" on Nvidia's technology and the stock, which is worth around $60 billion, should be valued at $100 billion.

Jefferies Reiterates Buy Rating

Mark Lipacis of Jefferies argued Nvidia's report solidified Nvidia's status as being the de facto standard in Artificial Intelligence.

Lipacis added that Nvidia's data center segment, in which sales grew more than 200 percent year-over-year to $296 million, accounted for 1 percent of total sales. Moving forward, the data center's deep learning deployment is still in its early stages and will eclipse the company's largest segment (gaming) over the longer-term.

Shares were reiterated with a Buy rating with a price target boosted to $140 from $125.

See Also: Nvidia Remains One Of The Most Exciting Growth Stories In Tech

Pacific Crest: Nvidia Has Peaked

Michael McConnell of Pacific Crest highlighted the many impressive aspects of Nvidia's report, including strong growth from clients like Tesla.

However, the stock should be looked at from a multiples point of view which yields a $99 fair value. Specifically, the analyst believes the stock should be trading at a 30x multiple on his 2019 earnings per share estimate of $3.30.

Loop Capital: Conservative Guidance

Betsy Van Hees of Loop Capital argued that while Nvidia's fourth quarter report wasn't a "blow out" like it was in the third quarter, the results were "solid" enough.

Van Hees also noted that Nvidia's first quarter guidance appears to be conservative and gives the company an opportunity to "keep expectations reigned in so it can continue its impressive pattern of beats and raises."

Van Hees believes Nvidia's stock could rise to $129, up from a prior estimate of $120.

Elsewhere On The Street

• Nomura maintained a Buy rating with a price target raised to $100 from a previous $80.
• Deutsche Bank maintained a Hold rating with a price target raised to $105 from a previous $75.
• Susquehanna maintained a Neutral rating with a price target raised to $110 from a previous $95.
• JPMorgan maintained a Neutral rating with a price target raised to $116 from a previous $85.
• UBS maintained a Buy rating with a price target raised to $132 from a previous $120.
• Citi maintained a Buy rating with a price target raised to $145 from a previous $120.