Nvidia (NVDA) once again cleared Wall Street’s high bar with its strong Q1 earnings, and one top analyst says the AI leader is still only getting started. Cantor Fitzgerald’s C.J. Muse reiterated his Buy rating and $350 price target, saying he remains “all‑in on Nvidia” after the company delivered its 15th straight quarter of topping both earnings and guidance.
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200% short exposure to NVDA with NVDSIt is worth noting that Muse ranks 7 out of more than 12,250 analysts tracked by TipRanks. He has an overall success rate of 89% on NVDA stock, with an average return per rating of 77.22% over a one-year timeframe.
Analyst Says Nvidia’s Data Center Engine Is Still the Main Story
Muse said the story is still mainly about the data center, powered by Nvidia’s Grace Blackwell chips. He added that the next big chip line, Vera Rubin, starts ramping in the third quarter of 2026. Also, management pointed to a backlog of more than $1 trillion for Blackwell and Rubin running from late 2025 through 2027.
Cantor said Wall Street is still not giving Nvidia enough credit. Muse thinks Nvidia will win more share in top‑tier AI models. He also noted new revenue streams from the Vera CPU, which management expects to bring in $20 billion in 2026, and from LPX, which is tied to the fast‑growing inference market.
Overall, Muse believes Nvidia’s data center sales could reach $600 billion or more in 2027, far above the current estimate of about $450 billion. He said this level of revenue would support EPS over $15.
Buyback Concerns Offset by Strong Long‑Term Setup
Muse said the one weak spot was Nvidia’s new $80 billion buyback plan. He expected something larger, given management’s plan to return about 50% of future free cash flow to shareholders. Cantor thinks Nvidia could make $500 billion in free cash flow over the next two years and $1 trillion over the next five years.
Still, Muse said the long‑term picture is very strong. Nvidia is sold out for compute through 2026 and 2027, and TSMC’s (TSM) chip supply is mostly booked through 2028. That means the AI compute boom could last much longer than the market thinks.
Muse kept Nvidia as a Top Pick, saying the stock trades at less than 15x his expected 2027 earnings, and still offers more than 50% upside to his $350 target.
What Is the Prediction for NVDA Stock?
Turning to Wall Street, NVDA stock has a Strong Buy consensus rating based on 40 Buys, one Hold, and one Sell assigned in the last three months. At $299.97, the average Nvidia stock price target implies a 34.95% upside potential.
