Analysts Raise Nvidia Price Targets Ahead of Q2 Earnings

Several Wall Street analysts have raised their price targets for Nvidia (NVDA) stock ahead of the company's second-quarter fiscal 2026 earnings report, scheduled for August 27. Mark Lipacis, a top-rated analyst from Evercore, increased his price target from $190 to $214, maintaining a Buy rating and citing the stock's "attractive valuation." Lipacis noted that Nvidia's next 12 months (NTM) price-to-earnings (P/E) ratio of 33x is below its 8-year median of 36x and compares favorably to competitors like Advanced Micro Devices (AMD) at 31x and Broadcom (AVGO) at 37x. He projects Nvidia's earnings per share (EPS) to grow by 48% in 2025 and 39% in 2026, suggesting a price-to-earnings growth (PEG) ratio well below parity.

Lipacis also addressed concerns about Nvidia's potential weighting in the S&P 500 index, stating that while some investors worry about the stock reaching a 14% weighting, historical precedents exist. He pointed out that companies like Intel, Microsoft, Dell, and Cisco achieved similar weightings during their peaks, suggesting Nvidia could follow suit.

In addition to Lipacis, Wedbush analyst Matt Bryson reaffirmed a Buy rating for Nvidia and raised his price target from $175 to $210, citing strong demand for the company's AI chips.

Despite uncertainties related to H20 chip sales to China, Wall Street remains optimistic about Nvidia's performance. The stock holds a Strong Buy consensus rating based on 35 Buys, three Holds, and one Sell recommendation. Analysts anticipate a 48% year-over-year increase in Q2 FY26 EPS to $1.01 and a 53% rise in revenue to approximately $45.9 billion. The average price target of $198.57 indicates an 11.5% upside potential from current levels.