NVIDIA Corp (NASDAQ:NVDA) analysts are raising price targets and highlighting the company’s early fiscal 2028 guidance after second-quarter results for revenue and earnings per share came in above estimates.
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The Nvidia Analysts
Wedbush analyst Matt Bryson reiterated an Outperform rating on Nvidia and raised the price target from $330 to $345.
Rosenblatt analyst Kevin Cassidy reiterated a Buy rating and raised the price target from $325 to $390.
KeyBanc analyst John Vinh maintained an Overweight rating with a price target of $330.
DA Davidson analyst Gil Luria reiterated a Buy rating with a price target of $300.
Benchmark analyst Cody Acree reiterated a Buy rating with a price target of $335.
Wedbush on NVDA Stock
Guidance from Nvidia provides "a year of visibility," Bryson said in a new investor note.
Bryson highlighted third-quarter and next year’s guidance coming in ahead of estimates.
"Management guided to FY28 revenue growth of ~70%, the first full year outlook NVDA has provided (for a year that is still ~5 months out to boot), and framed the revenue outlook as being supply bound," Bryson said.
Nvidia’s guidance for gross margins to dip in fiscal 2028 wasn’t expected by the analyst.
"Looking to next year, we see NVDA’s lower margins on higher system/solution pricing as seemingly splitting the impact of higher memory costs between NVDA and its customers."
The analyst said supply constraints keep the company from doubling its revenue.
Rosenblatt on NVDA Stock
Cassidy calls the earnings and guidance "a second NVIDIA moment" in a new investor note.
The analyst says guidance of 70% year-over-year revenue growth for fiscal 2028 is supply constrained, but still is "crushing" the 45% consensus estimate.
"While absorbing some memory price hikes will temporarily pressure gross margins, use of the balance sheet to guarantee supply acts as a powerful secondary competitive moat," Cassidy said.
The analyst highlights Nvidia hitting record quarterly revenue, with data center segment revenue up 117% year-over-year.
Guidance for fiscal 2028 was a key highlight for the analyst, with the potential for 100% year-over-year growth if not for supply constraints.
"ACIE is expected to grow faster than Hyperscaler over time, supported by AI clouds, sovereign AI and enterprise adoption."
KeyBanc on NVDA Stock
Nvidia’s second quarter showed "strong results," Vinh said in a new investor note.
The analyst highlighted guidance, "which solidly exceeded expectations" for the third quarter.
Vinh said management highlighted a revenue-sharing financing model, which provides take-or-pay commitments.
DA Davidson on NVDA Stock
Nvidia’s new guidance provides "more visibility than ever," Luria said in a new investor note.
The analyst highlights the company providing fiscal year unofficial guidance of 70% growth, which comes with supply constraints.
Luria said guidance for fourth quarter and fiscal 2028 gross margins are important, with the key financial indicator estimated to fall to 71.5% in the fourth quarter before leveling out at 72.5% in fiscal 2028.
"Almost all of the margin pressure is being driven by higher memory prices, with Nvidia absorbing part of the increase because passing through the full cost would result in pricing they believe is too high for customers," Luria said.
The analyst said fiscal 2028 guidance is "significantly higher than consensus estimates."
Benchmark on NVDA Stock
Nvidia’s conference call and management commentary on future guidance helped boost shares after second-quarter results, Acree said in a new investor note.
"NVIDIA shares reversed an initial decline and traded roughly 5% higher after hours, primarily because management provided a much higher FY28 revenue outlook versus expectations," Acree said.
The analyst said guidance for 70% revenue growth in fiscal 2028 implies around $690 billion ahead of a Street consensus estimate of $573.5 billion.
"We believe the difference between the demand signal and the supply-backed guide creates unusual execution room for further estimate upside even from a quarterly revenue base approaching $100B."
Acree said the negative in the report is the gross margin guidance.
"In our opinion, the resulting margin sacrifice strengthens customer economics and supply conversion, while the revenue increase still drives FY28 EPS materially higher."
While Acree didn’t raise the price target, the analyst does see more upside for Nvidia stock.
"We believe that valuation remains conservative relative to the peer group and the visibility embedded in the new FY28 framework."
Nvidia Stock Price Action
Nvidia stock is up 8.69% to $227.81 on Thursday versus a 52-week trading range of $164.07 to $236.54. Nvidia stock is up 20.7% year-to-date in 2026.
Photo: Samuel Boivin / Shutterstock – ek
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