Nvidia's (NVDA) third quarter earnings report out Wednesday saw the chipmaker once again blow away Wall Street forecasts.
And analysts across the Street were quick to praise the results, which showed the world's largest public company continuing to benefit from the AI boom.
Wedbush's Dan Ives, one of Nvidia's biggest fans on Wall Street, said the company's fiscal third quarter earnings reported after the bell Wednesday were "flawless" and "should be framed and hung in the Louvre" in a note to investors Thursday.
Ives, with his typical flair, also frequently refers to Nvidia CEO Jensen Huang as the "Godfather of AI" and the company's latest Blackwell AI chip as the "LeBron" of semiconductors.
"We believe the path to $4 trillion market cap and beyond is now laid out by Nvidia and this is bullish for the broader tech rally into year-end and 2025," Ives wrote elsewhere in his report.
Nvidia's financial results for the quarter ended Oct. 27 topped expectations across the board.
And while other analysts didn't go so far as to recommend Nvidia's print as worthy of a fine art exhibition, analysts at investment firms including JPMorgan, DA Davidson, and Bernstein each raised their price targets on the stock following Wednesday's report.
"NVIDIA is well within its means to extend growth into next year given hyperscaler commentary around additional investments in AI compute and the company's ability to deliver even with production setbacks," wrote DA Davidson analyst Gil Luria in his own note to investors Thursday.
Luria is relatively bearish on Nvidia and has cautioned about risks to the company's growth, including the potential of an AI bubble and Nvidia's high concentration of revenue among relatively few Big Tech customers. But following Nvidia's third quarter results, Luria raised his price target on the stock to $135 from $90, though he maintained his Neutral rating.
JPMorgan's Harlan Sur reiterated his Buy rating on Nvidia shares and raised his price target to $170 from $155, noting continued strong demand for Nvidia's Hopper chips even as tech firms race to buy its latest Blackwell lineup.
William Stein of Truist Securities, who also maintains a Buy rating on Nvidia stock, wrote in a note late Wednesday, "NVDA remains *the* AI company owing to its culture of innovation, ecosystem of incumbency, and massive investment in software, pre-trained models, and services."
Despite the beat, shares of Nvidia were off about 1% on Thursday and lagging the broader market.