Nvidia (NVDA) beat Wall Street’s Q3 expectations once again, giving a strong boost to the AI trade. After the impressive results, five-star-rated analyst Stacy Rasgon at Bernstein shared a bullish outlook, highlighting Nvidia’s leadership in AI chips and its solid growth ahead. Following upbeat numbers, NVDA stock is up over 5% in pre-market hours on Thursday.
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For context, Nvidia posted adjusted earnings of $1.30 per share for Q3 FY26, topping the consensus estimate of $1.26 and marking a 60% jump from the same quarter last year. The company also reported revenue of $57 billion, above analysts’ expectations of $54.9 billion.
Bernstein Reacts to Nvidia’s Q3 Performance
Speaking to Yahoo Finance, Rasgon said Nvidia’s earnings and guidance gave investors everything they were hoping for. He noted, “I’m not sure what else you can ask for.” He also highlighted the company’s Q3 results as a “solid beat and raise.”
Additionally, Rasgon pointed out that the revenue guidance of $65 billion for Q4 is in the bullish zone, reflecting solid visibility for investors.
Rasgon also pointed to CEO Jensen Huang’s upbeat remarks about the business, noting that Nvidia appears very confident about ongoing demand trends. He added that Huang’s comments don’t sound like something you’d hear from someone turning bearish on AI. Notably, Huang dismissed the ongoing concerns over the AI bubble. He emphasized that Nvidia sees things very differently, pointing to strong, sustained demand.
Is Nvidia a Good Buy Now?
According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 35 Buys, four Holds, and one Sell assigned in the last three months. At $243.09, the Nvidia average share price target implies a 30.3% upside potential.
These ratings and price targets will likely change as analysts update their coverage following the latest earnings report.
