Nvidia Corporation (NVDA) posted another set of record results, and consequently, two top firms raised their views on the stock. The report showed steady growth in key lines, and the forecast helped calm some concerns around the pace of the AI trend. Today, NVDA shares are rising in pre-market trading, with 5% rise at the time of writing.
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Updated analyst calls
First, Goldman Sachs (GS) raised its price target on Nvidia to $250. Four-star analyst James Schneider kept a Buy call and cited steady demand for AI gear.
Then, JPMorgan (JPM) also raised its price target on Nvidia to $250. Top analyst Harlan Sur maintained a Buy rating and noted that the new view reflects strong adoption of Nvidia chips across cloud firms and new model teams. Together, both calls point to a clear view that demand for AI parts remains firm.
Key results and the outlook
Nvidia posted adjusted profit of $1.30 per share, which topped the street view of $1.26. Revenue came in at $57 billion, which also beat the view of $54.9 billion. As a result, the new outlook showed even more growth ahead.
The data center unit stood out once more. It drew in $51.2 billion in revenue, which was up 66% from a year ago. Chief executive Jensen Huang said that sales of the firm’s Blackwell chips remain very strong and that cloud clients have sold out supply.
As for the next quarter, Nvidia now sees revenue of $65 billion plus or minus 2%. The forecast came in above the street view and gave the market a bit more ease after a swift run in AI stocks.
Overall, the new calls from Goldman Sachs and JPMorgan land at a moment when Nvidia keeps posting record numbers. Both firms kept their Buy views and now see the stock at $250, which sits well above the most recent close of $186.52.
Is Nvidia Stock a Buy?
Naturally, after its stellar earnings report, Nvidia continues to hold the Street’s endorsement with a Strong Buy consensus rating. The average NVDA price target is $243.09, implying a 30.33% upside from the current price.
