Wall Street investment bank Goldman Sachs (GS) has raised its price target on Nvidia’s (NVDA) stock ahead of what it expects to be a “beat-and-raise quarter.”
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Goldman Sachs reaffirmed its Buy rating on NVDA stock and raised its price target on the shares to $240 from $210, saying it expects strong third-quarter financial results from the chipmaker. James Schneider, a four-star-rated analyst at Goldman, wrote in a note to clients that investor expectations have increased ahead of earnings “given multiple AI infrastructure announcements” in recent weeks.
However, Goldman Sachs remains confident that Nvidia can once again jump the high bar that has been set for it, writing that “expectations are high and investors are long into the print,” with attention likely to center on “the cadence, customer profile, and compute/networking mix” of Nvidia’s $500 billion processor and networking revenue outlook.
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In its pre-earnings assessment, Goldman Sachs also raised its revenue estimates for Nvidia’s chip sales to data centers by 13%, “to account for recent management commentary, positive revisions to hyperscaler CapEx, and other intra-quarter data points.”
Goldman’s earnings forecasts for the third and fourth quarters of $1.28 and $1.49 per share, respectively, are 3% and 5% above the consensus on Wall Street. “We raise our revenue and non-GAAP EPS estimates by 12% on average throughout FY26-28,” wrote Schneider, noting that his updated 2027 and 2028 earnings forecasts are “22% and 28% above Street estimates.”
Nvidia is scheduled to report its third-quarter financial results on Nov. 11.
Is NVDA Stock a Buy?
The stock of Nvidia has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 36 Buy, one Hold, and one Sell recommendations issued in the past three months. The average NVDA price target of $233.82 implies 14.54% upside from current levels.
