Wall Street Boosts Nvidia Price Targets Ahead of Q3 Earnings

Nvidia Gains 203% YTD, Analysts Up Targets Before Q3 Report

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Nov 15, 2024
Summary
  • Nvidia’s Earnings Loom, and Wall Street Analysts Are Raising Targets
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Wall Street analysts have revised their price targets for Nvidia (NVDA, Financial) as the semiconductor giant is set to reveal its Q3 earnings results on November 20 while continuing to extend its dominance in the artificial intelligence (AI) market. Nvidia, which has posted a remarkable 203.57% year-to-date gain, recently added another 7.74%, pushing its stock price to $143.1.

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Analysts remain optimistic ahead of Nvidia's upcoming Q3 2025 earnings report. Nvidia is expected to report revenues of $32.5 billion, further fueling investor optimism.

Several top analysts have raised their price targets for Nvidia ahead of the earnings call. HSBC's Frank Lee was the most aggressive, increasing his target from $145 to $200, implying a 36.78% upside based on the company's growing data center business. Susquehanna's Christopher Rolland raised his target to $180, citing strong demand for Nvidia's H100 and H200 chips. Oppenheimer's Rich Schafer lifted his target to $175. At the same time, Raymond James' Srini Pajjuri revised his target down to $170 but noted that any decline in Nvidia's stock price should be viewed as a buying opportunity.

Matt Bryson at Wedbush also raised his target to $160 based on more favorable revenue estimates. With price targets ranging from $160 to $200, Nvidia remains a key player in the AI-driven semiconductor market. However, analysts caution that its high P/E ratio and broader market volatility should be closely monitored.

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