HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the hot stocks to buy with huge upside potential. On October 22, B. Riley analyst Nick Giles raised the firm’s price target on Hive Digital to $8 from $7 and kept a Buy rating on the shares. This sentiment was announced as the firm updated its estimates and valuations for high-performance computing-focused companies, while also lifting price targets by an average of 78% and 2026 forecasts by 5%.B. Riley Lifts HIVE Digital (HIVE) PT to $8 on AI-Driven Data Center Upside

The firm pointed out that shares for the company have seen a sharp rise since the middle of 2025, although there were some recent declines as well. This growth is driven by the demand for power and data centers related to AI. B. Riley believes that the new agreements, like the reported cloud partnership between Google and Anthropic, could provide even more upward momentum for the stock.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is a technology company that builds and operates data centers powered by green energy in Bermuda.

While we acknowledge the potential of HIVE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.

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