Wall Street remains largely bullish on Nvidia (NASDAQ: NVDA) stock ahead of the firm’s fiscal Q1 earnings report, scheduled for May 28.
Analysts, on average, expect the semiconductor giant to post revenue of $43.38 billion, up 66% year-over-year, with an adjusted net income of $21.29 billion, primarily driven by its leadership in artificial intelligence (AI).
Meanwhile, Nvidia shares continue to hold above the $130 support level, ending the last session down 1.1% at $131.29. Year to date, the stock is down 5%.
Despite ongoing geopolitical challenges related to China, analysts maintain a positive outlook for Nvidia.
Analysts’ take on NVDA stock price
On May 22, Bank of America Securities analyst Vivek Arya reiterated a ‘Buy’ rating and a $160 price target. He acknowledged risks tied to China, including a potential $15 billion revenue impact, but noted that the market has priced in only a fraction. Arya highlighted the significance of Nvidia’s upcoming earnings, gross margin trends, and the successful ramp-up of its Blackwell chips. He described Nvidia as a “top sector pick,” citing its strong position in the global AI boom and potential for a China revenue rebound.
Similarly, Stifel’s Ruben Roy maintained a ‘Buy’ rating on May 23, raising his price target to $180. Roy expects Nvidia’s Q1 results to meet expectations and anticipates a second-half rebound based on supply chain improvements. He pointed to Nvidia’s expansion into markets like the UAE and Saudi Arabia as a testament to its global AI leadership. While acknowledging risks from China and new product margin pressures, Roy emphasized Nvidia’s unmatched ecosystem and its foundational role in AI infrastructure.
Oppenheimer’s Rick Schafer also expressed confidence, reaffirming an ‘Outperform’ rating and a $175 price target. He expects Nvidia to exceed Q1 estimates, driven by strong GB200 rack-scale production and a smooth Blackwell rollout. Although the H20 chip ban in China presents short-term headwinds, Schafer believes Nvidia’s broad customer base and integrated hardware-software stack give it a durable competitive edge.
Rounding out the analyst sentiment, Cantor Fitzgerald’s Christopher Muse maintained an ‘Overweight’ rating on May 21, with the highest price target at $200. Muse emphasized Nvidia’s resilience amid an expected $15 billion hit to China-related data center revenue. He believes robust Blackwell chip momentum will help offset those losses and forecasts slightly below-consensus guidance for the July quarter, reflecting strategic execution and product strength.
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