Nvidia-linked stocks soared in overnight trading; Serve Robotics Inc. up 8%; Arbe Robotics Ltd., APPLIED DIGITAL CORP up 6%; SoundHound AI Inc up 3%; NVIDIA up 1%.
Tesla Motors shares jumped 2.2% in overnight trading. Destiny Tech100 Inc ETF rose 6% as SpaceX is its largest holding.
One bit of good news for investors on Monday was a price-target bump from Morgan Stanley analyst Adam Jonas. He raised his Tesla stock price target to $430 from $400, and kept his Buy rating.
This is a year “where the market’s appreciation for Tesla’s unique combination of skills can be further reflected in the multiple,” wrote Jonas. Cars still matter for him, but things such as AI-trained self-driving cars matter more. His bull case is $800 a share, valuing Tesla at about $2.6 trillion.
Overall, about 44% of analysts covering Tesla stock have Buy ratings. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The average analyst price target on Tesla shares is about $309.
KB Home stock gapped up 11% in overnight trading after the homebuilder delivered above-consensus guidance for fiscal year 2025 and stronger-than-expected fiscal Q4 2024 results amid faster build times and more deliveries.
Housing revenues for full-year 2025 are expected to be $7.0B-$7.50B, compared with the $6.89B Visible Alpha estimate. Average selling price is seen in the $488K-$498K range this year, and housing gross profit margin is projected to be 20.0%-21.0%, assuming no inventory-related changes.
Bitcoin jumped above $94,000, currently trading at $94,777, with a 24-hour increase of 0.27%.
Crypto shares rose in overnight trading. MARA Holdings rose 2.3%; MicroStrategy rose 2%; Coinbase Global, Inc. rose 1%.
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