wall street analysts on thursday widely cheered club holding nvidia s nvda fiscal year 2023 fourthquarter results prompting an avalanche of pricetarget increases and a new buy rating from onceskeptical goldman sachs the overwhelmingly positive reaction underscores the quality of nvidias business fundamentals along with the opportunity weve been touting for the company to grow on the back of its maturing artificial intelligence ai capabilities shares of nvidia surged nearly 14 thursday to over 236 apiece bringing the stocks yeartodate gains to roughly 62 the view from wall street in the 21 notes from major research shops the club reviewed thursday 18 analysts boosted their price targets following nvidias betterthanexpected results wednesday evening ranging from the high end of 320pershare at rosenblatt securities all the way down to 200 apiece at deutsche bank fourteen of those 18 analysts rate the stock a buy or buy equivalent compared with four who maintain hold ratings but goldman sachs was the only bank to raise its stock rating on nvidia to buy from neutral making its research note on the chipmaker thursdays most notable in addition to now recommending clients buy nvidia stock goldman boosted its 12month price target to 275 a share from 162 that implies a nearly 33 upside from where the stock closed wednesday at 20754 a share the combination of positive estimate revisions and a potential expansion in the stocks multiple consistent with historical recovery phases will drive continued outperformance in the stock goldman analysts wrote the analysts acknowledged their prior caution around nvidia had been wrong but said the upgrade was driven by signs of accelerated adoption of ai pricing power and tight expense management meanwhile analysts at investment bank stifel were among those who maintained their hold rating on nvidias shares they said they continue to view nvda as amongst the best positioned to benefit from accelerated aibased investment but expressed concerns about the stocks valuation its forward pricetoearnings ratio of 45times is above the fiveyear average of 42times according to stifels calculations thursday morning stifel nonetheless raised its price target on nvidia to 225 per share up from 207 on the back of elevated revenue and earnings estimates for fiscal years 2024 and 2025 big picture nvda 1y mountain nvidias stock performance over the past 12 months not only did nvidia beat wall streets estimates for its fiscal fourthquarter sales and earnings the companys currentquarter guidance came in stronger than expected a key factor behind the chipmakers favorable outlook is managements expectation that cloud and gaming revenues will grow quarteroverquarter moreover nvidia expects growth in its data center business home to its cloud operations and airelated chips to accelerate throughout the fiscal year cfo colette kress said wednesday looking forward the risks to gaming and data center are cleared and we believe this remains the best way to gain exposure to the growth in ai analysts at barclays wrote in a note thursday the firm has an overweight or buy rating on nvidia and a 275pershare price target nvidia ceo jensen huang on wednesday said ai is at an inflection point with viral chatbot chatgpt demonstrating the potential of the technology known as generative ai openais chatgpt in which club holding microsoft msft is a major investor is a large language model that generates distinct humanlike text responses to user queries nvidias graphics processing units gpus were used to train and run chatgpt and can be applied to other large language models enterprises in just about every industry are activating to apply generative ai to reimagine their products and businesses huang said the level of activity around ai which was already high has accelerated significantly bottom line weve been longterm nvidia investors on our belief in the growth potential of its cloud and software business which has only been bolstered by the companys innovations in the realm of ai those prospects were on full display wednesday with the chipmakers outsized quarter and guidance and wall street clearly took note too last year proved to be a challenging one for the semiconductor industry prompting the club to reduce our exposure to highmultiple technology stocks like nvidia but the sector has rebounded in 2023 with the generative ai buzz a tailwind in particular for nvidia and evidence that the darkest clouds over gaming appear to have dissipated is another favorable takeaway despite our optimism on nvidias growth potential we seldom add to a stock amid a huge rally like thursdays thats why wed want to see some pullback before adding to our position jim cramers charitable trust is long nvda msft see here for a full list of the stocks as a subscriber to the cnbc investing club with jim cramer you will receive a trade alert before jim makes a trade jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trusts portfolio if jim has talked about a stock on cnbc tv he waits 72 hours after issuing the trade alert before executing the trade the above investing club information is subject to our terms and conditions and privacy policy  together with our disclaimer  no fiduciary obligation or duty exists or is created by virtue of your receipt of any information provided in connection with the investing club no specific outcome or profit is guaranteed