Wall Street remains bullish on Nvidia stock forecast ahead of Nvidia’s (NASDAQ:NVDA) upcoming August 27 earnings report. Several firms recently raised their price targets, reflecting growing confidence in Nvidia’s AI-driven growth. KeyBanc boosted its target from $190 to $215, Susquehanna raised it to $210 from $180, and HSBC upgraded its target to $200 from $125.
These upward revisions come amid surging revenue projections. Analysts forecast fiscal 2026 revenue at $202.44 billion, with fiscal 2027 estimates climbing to $259.36 billion—nearly double fiscal 2025’s $130.5 billion. Current-quarter expectations call for $45.97 billion in revenue, a 53% year-over-year (YoY) gain. Earnings per share are projected at $1.01, up from $0.68 YoY.
Nvidia’s AI Dominance Fuels Growth
A core driver of the Nvidia stock forecast is Nvidia’s dominance in artificial intelligence. Fiscal Q1 revenue reached $44 billion, a 69% YoY jump, highlighting its leadership in the AI computing revolution. The company’s new Blackwell architecture now accounts for nearly 70% of Data Center compute revenue, marking the fastest product ramp in its history.
Major cloud providers are rapidly deploying Nvidia GPUs. Microsoft (NASDAQ:MSFT) has already integrated tens of thousands of Blackwell GPUs and plans to expand further. The adoption of reasoning AI models is accelerating global compute demand. Microsoft processed over 100 trillion tokens in Q1, five times more than last year. Nvidia’s GB200 NVL72 delivers 30x higher inference throughput, perfectly suited for these workloads.
Expanding Growth Vectors Beyond AI
Another bullish factor in the Nvidia stock forecast is diversification beyond data center chips. Gaming revenue hit $3.8 billion in Q1, up 48% sequentially, supported by the Nintendo Switch 2, which uses Nvidia’s RTX technology. Networking revenue surged 64% quarter-over-quarter to $5 billion as Spectrum-X solutions gain traction among major cloud providers.
The sovereign AI market also presents an emerging opportunity. Nearly 100 AI factories are under construction globally, representing multi-gigawatt Nvidia infrastructure projects. Meanwhile, enterprise AI adoption is accelerating as businesses deploy RTX Pro systems on-premises, tapping into a $500 billion IT infrastructure market.
Nvidia’s strong financial position underpins these growth initiatives. The company returned $14.3 billion to shareholders via buybacks and dividends in Q1, signaling confidence in future cash flows.
Risks and Valuation Considerations
Despite the bullish Nvidia stock forecast, some risks remain. China-related uncertainties could impact future revenue if export restrictions tighten. HSBC has cautioned about potential pricing pressures and geopolitical headwinds.
From a valuation standpoint, Nvidia stock trades at a forward P/E ratio of about 35x, slightly above its 10-year average of 32x. Analysts project adjusted earnings to grow from $2.99 per share in fiscal 2025 to $8.67 per share by 2030. Even if Nvidia’s valuation multiple normalizes to 25x, its projected share price could reach $217 by early 2029—implying around 24% upside from current levels near $178.
Analyst Consensus and Price Targets
Among 46 analysts covering Nvidia, 38 rate Nvidia stock a “Strong Buy,” two recommend a “Moderate Buy,” five suggest “Hold,” and one calls it a “Strong Sell.” The average Nvidia stock forecast price target is $192, above its current trading price.
Bottom Line: Should You Buy Nvidia Stock?
Nvidia’s leadership in AI, expanding product ecosystem, and strong analyst support make a compelling case for its long-term growth. However, investors should weigh its premium valuation and geopolitical risks. For those seeking exposure to AI-driven growth, the NVDA stock forecast suggests Nvidia remains a top contender for long-term portfolios.
Featured Image: Megapixl
Author Stephanie Bédard-Châteauneuf 
