Nvidia (NASDAQ: NVDA) remains the centerpiece of Wall Street’s AI trade, and analysts see little reason for that to change heading into the company’s fiscal Q2 earnings on August 27.
The consensus view is clear: this is still a “Strong Buy” stock, with 34 of 38 analysts recommending accumulation, just three advising to hold, and only one rating it a sell.
Goldman Sachs became the latest to lift expectations, raising its price target to $200 from $185 while reiterating a buy rating. Analyst James Schneider expects Nvidia to deliver what he calls a “clean beat-and-raise quarter.”
But while Q2 numbers will be closely scrutinized, Schneider believes the real market catalyst will be forward guidance, particularly any commentary on China’s H20 GPU rollout, the pace of Blackwell chip adoption in the second half of 2025, and updates on gross margin performance.
Wall Street predicts Earnings will continue NVDA growth
The earnings call could also set the tone for Nvidia’s longer-term growth trajectory. Schneider pointed to Rubin, the company’s next-generation AI chip family scheduled for 2026, as a structural growth driver that could extend Nvidia’s leadership well into the decade. This forward product visibility, he argues, helps insulate the stock from short-term cyclical swings in the semiconductor sector.
Shares closed Thursday at $180.77, up 0.75% for the day, continuing a steady climb after recent pullbacks. Bank of America reaffirmed its $220 price target, with analyst Vivek Arya urging investors to “keep buying” ahead of earnings. Mizuho echoed that sentiment, framing the recent dip, sparked by earnings volatility in peers like Super Micro Computer and AMD, as a tactical buying opportunity.
From a valuation standpoint, the Street’s average 12-month price target stands at $185.79, implying a modest 2.78% upside from current levels. However, the spread between the most bullish target of $250 and the most bearish at $120 underscores the importance of execution.
If Nvidia delivers on both near-term earnings momentum and long-term product roadmap milestones, the stock could gravitate toward the upper end of forecasts. Conversely, any cracks in guidance, especially tied to China restrictions or slowing hyperscaler demand could test investor conviction.
