NEW YORK (TheStreet) --Shares of Nvidia  (NVDA) were surging by 26.69% to $85.85 in early afternoon trading on Friday, after the company reported stronger-than-anticipated fiscal 2017 third-quarter earnings and revenue. 

The Santa Clara, CA-based technology company posted earnings of 83 cents per share, beating expectations of 57 cents per share. Revenue came in at $2 billion, outpacing Wall Street projections for $1.69 billion.

Consequently, shares of Nvidia are higher nearly 23% in the past 24 hours.

"I think it's going higher from here," Ritholtz Wealth Management CEO Josh Brown said on CNBC's "Fast Money Halftime Report" this afternoon.

However, he did acknowledge the stock's significant move in the past day and cautioned against "rushing in" and buying it "right this minute."

"But, I think you want to think about this as the Intel (INTC) of the new era," he said.

Nvidia has found success in the development of video games, data centers and cloud computing, along with a bevy of other tech ventures seen as the future of the sector, Brown noted. "Nvidia is systemic to these areas."

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

The team rates Nvidia as a Buy with a ratings score of A. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and good cash flow from operations. The team feels its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

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