NVIDIA's (NASDAQ:NVDA) red-hot stock is adding to recent momentum in early trading Friday, with the stock up another 2.8% and over the $950 mark.
The stock is now up about 90% to start 2024 and is up nearly 300% over the last 1-year time frame amid the ongoing AI boom.
Now, some are looking for a potential NVIDIA stock split.
Ken Mahoney, president and chief executive officer of Mahoney Asset Management, told Bloomberg News that they expect a stock split in the next year or so.
"Probably in the next year or so, I expect the stock to split and that would be able to get some small retail investors into the stock where they think it’s out of reach right now," Mahoney said.
NVIDIA last announced a four-for-one stock split in May 2021. Shares were around $600 at that time. Currently, the stock is nearing the $1,000 mark.
When NVIDIA split the stock in 2021, the company said the reason was to "make stock ownership more accessible to investors and employees."
Earlier this week, analysts at Mizuho raised their price target on NVIDIA to $1,000 calling it the "biggest near-term AI winner."
"We continue to see strength in NVDA's AI ramp through 2024/25 with GH200/B100/B200 with our 2024 at ~$89B in DC revenues with potentially more upside and potentially, we estimate, reaching ~$280B in AI DC revs by 2027...," analysts said.