The Zacks Research Team has given Nvidia stock (NASDAQ: NVDA) a strong buy rating in a note sent to clients last week. The leading research and analytical firm is confident of a quick profit if an entry position is taken below the $210 level. The leading global GPU manufacturer has been experiencing several price spurts, only to see its price fall below the $200 level.

The research firm wrote in a note to clients that short-term holders could make another quick buck, as Nvidia stock could see a brief rise before heading back in value. The price prediction also estimates that traders could make double-digit profits even if they take an entry position at $206. However, the best strategy could be to further accumulate the dips if it falls below the $200 zone.

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Nvidia Stock (NVDA) Price Target: Zacks Research Team Short-Term Prediction

Nvidia stock has received a price target of $234 from the Zachs Research Team. That’s a profit of $28 per share if traders take an entry position on Monday at $206. It is also an uptick and return on investment (ROI) of approximately 14% from its current price. Therefore, an investment of $1,000 could turn into $1,140 if the price prediction turns out to be accurate. This is stellar gains for the short term, as not every asset can deliver 14% quick gains.

Apart from Nvidia stock, the broader AI industry has also been experiencing several price spurts. Many of them have also taken a double-digit leaps in a week. Stocks such as Micron, SanDisk, and SK Hynix, among others, have all generated massive returns. Almost every company that is associated with manufacturing and supplying products to build data centers is seeing its stocks boom. Retail investors have also made a beeline to accumulate them for fear of missing out on gains.