Key Takeaways from Nvidia’s Better-Than-Expected Earnings

Nvidia Shares Surge After Better-Than-Expected Earnings, Analysts Raise Price Targets

Nvidia’s stock soared after the chipmaker reported impressive earnings, prompting a wave of optimism among analysts who raised their price targets for the company. Shares of Nvidia (NVDA) were up 11% at $1,053.97 as of 1 p.m. ET Thursday, marking a significant increase since the beginning of the year.

Analysts at UBS, Bank of America, Citi, Jefferies, JPMorgan, Wedbush, Melius Research, Bernstein, and Mizuho all revised their price targets for Nvidia following the earnings release. Bank of America and Jefferies set the highest new targets at $1,320 and $1,350, respectively, with Bernstein following closely behind at $1,300.

Melius Research analysts expressed their bullish sentiment, stating that Nvidia still has “a lot of gas in their tank to beat and raise from here.” They highlighted the company’s Blackwell-driven revenue, strong demand for H200 and Blackwell products, and anticipated growth in sovereign AI initiatives.

Wedbush analysts also shared their optimism, noting that Nvidia seems to be accelerating its growth trajectory. They emphasized that there is no reason to temper their enthusiasm for the stock.

Bernstein analysts echoed these sentiments, describing Nvidia as relatively inexpensive with a narrative that is far from reaching its peak. They suggested that the company is likely still in the early stages of becoming a multi-billion dollar business within the next two years, particularly in its networking and software segments.

Overall, the consensus among analysts is that Nvidia’s stock has significant potential for further growth, with many believing that the company has yet to reach its full potential. Investors are closely watching Nvidia as it continues to innovate and expand its presence in the rapidly evolving tech industry.