Piper Sandler reiterated its buy-equivalent rating on Nvidia's stock and $620 per-share price target, which implies nearly 33% upside from its Friday close.
After Nvidia's more-than-200% stock-price gain this year, investors are wondering what's "new" about Nvidia, Jim Cramer said Monday.
The answer to that question is software, Jim said, which could eventually help offset the historically boom-and-bust nature of semiconductor sales.
Over time, though, Piper Sandler believes software can become a "significant portion" of Nvidia's total revenue.
Despite our alignment with Piper Sandler on Nvidia's long-term software opportunity, Jim on Monday cautioned that its stock could be due for a breather.
Persons:
Piper Sandler, Nvidia's, Jim Cramer, Jim, Jim Cramer's
Organizations:
Nvidia, Devices, AMD, Software, Enterprise, Club, Apple, CNBC, Visitors, NVIDIA, Hangzhou Apsara, Getty, Nurphoto
Locations:
Hangzhou, Hangzhou Apsara Conference, Zhejiang province, China