Goldman Sachs increased its price target for Nvidia to $300 from $285 while maintaining a Neutral rating on the stock. Analyst James Schneider cited the company’s robust guidance and a revised 70% revenue growth forecast for calendar year 2027 as key drivers for the adjustment.
The bank also highlighted Nvidia’s medium-term gross margin guidance of 72% to 73% for 2027, compared with a current gross profit margin of 74.15%, and noted the company’s commitment to return over 50% of excess cash flow to shareholders. Nvidia’s PEG ratio stands at 0.29, and the stock was trading at $209.66 at the time of the update.
Nvidia’s July quarter revenue reached $96.2 billion, with earnings per share of $2.22. For the October quarter, the company guided revenue to $108 billion, following a 117% year-over-year increase in second-quarter data center revenue to $89 billion. Analysts also pointed to strong demand for Blackwell Ultra and datacenter products, as well as hyperscaler adoption.
Other firms upgraded their targets alongside Goldman Sachs. Mizuho raised its target to $315, KeyBanc reiterated an Overweight rating with a $330 target, Melius Research lifted its target to $420 while maintaining a Buy rating, JPMorgan raised its target to $320, and BofA Securities maintained a Buy rating with a $350 target while also raising EPS estimates for fiscal 2028 and beyond.
