NVIDIA announces Omniverse microservices; Analysts call buy

Wall Street’s darling AI, NVIDIA (NASDAQ:NVDA) announced a set of microservices focused on physical AI. Meanwhile, analysts remain bullish on the company’s shares with two new buy ratings today.

Bridging technology and the real world

In today’s world, sensors are a multi-billion dollar industry, enabling everything from electric vehicles to humanoid robots to make sense of the physical world around them. Now, NVIDIA offers its Omniverse Cloud Sensor RTX, a set of microservices that can help with physically accurate sensor simulation. The new offering could contribute to the development of fully autonomous machines in various contexts.

In particular, the technology can be used to test sensor perception and associated AI software on a large scale before deploying the solution in the real world. Rev. Lebaredian, vice president of Omniverse and simulation technology at NVIDIA, noted that the technology can help build “large-scale digital twins of factories, cities and even the Earth.” This, in turn, could help drive the next wave of AI.

Meanwhile, on Wall Street…

At the same time, NVIDIA’s stock price has risen nearly 206% over the past year, amid a widespread rally among chipmakers. The stock earned two new Buy ratings today following its recent 10-for-1 stock split. Bernstein’s Stacy Rasgon reiterated a Buy rating on NVIDIA along with a $130 price target . Citi’s Atif Malik, a five-star analyst on TipRanks, also maintained a buy call on NVIDIA alongside a $126 price target. At the same time, NVIDIA’s upcoming annual shareholder meeting on June 26 is a key event for investors to watch.

What is the target price for NVDA stock?

Overall, the Street has a Strong Buy consensus rating on NVIDIA, along with an NVDA average price target of $126.93. this implies that the stock might be sitting just above its fair valuation levels at present.

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