Nvidia (NVDA) will report its Q3 FY26 results on November 19, and top Goldman Sachs analyst James Schneider believes the company is set for another strong quarter. The analyst reiterated a Buy rating on the stock with a $240 price target, saying he expects Nvidia to post a “beat-and-raise” quarter, driven by steady demand for AI infrastructure from major tech and cloud companies.
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Schneider said investor expectations are high after a series of AI announcements and product updates from Nvidia’s recent GTC event, but strong data center growth and rising demand for AI systems should help the company deliver another solid performance.
Analyst Highlights What to Watch on November 19
The analyst said investors will look for more detail during the earnings call on Nvidia’s $500 billion data center forecast, the timing of OpenAI’s chip deployments in 2026, and the rollout of next-generation Rubin chips, which are expected to drive growth in 2026 and beyond. These updates, he said, will show how Nvidia plans to maintain its lead in the fast-moving AI chip market.
Schneider also noted that investors will be watching for any update on Nvidia’s business in China, which remains affected by U.S. export limits. Any sign of recovery in that region could add to future growth.
Overall, the analyst said Nvidia continues to lead the AI chip industry, supported by its scale, innovation, and strong customer base across enterprise and cloud computing.
What Is the Target Price for Nvidia Stock?
On TipRanks, NVDA stock has received a Strong Buy consensus rating, with 36 Buys, one Hold, and one Sell assigned in the last three months. The average Nvidia stock price target is $232.94, suggesting an upside potential of 14.81% from the current level.
