Wall Street analyst maps Nvidia’s path past $200 ahead of earnings

As Nvidia (NASDAQ: NVDA) prepares to release its fiscal second-quarter 2026 earnings on August 27, Wall Street analysts remain optimistic that the company’s stock will react positively.

Specifically, Stifel analyst Ruben Roy reiterated a ‘Buy’ rating on Nvidia and raised his price target to $212 from $202, citing confidence in the chipmaker’s ability to deliver another strong quarter. The new target implies a potential 19% upside from the last market close at $177.

In an August 25 note, Roy projected a beat-and-raise scenario, supported by the resumption of H20 shipments in July and accelerating demand for Nvidia’s next-generation GB300 infrastructure. 

Supply chain checks suggest GB300 orders are ramping into year-end, while demand for the current GB200 line remains solid.

At the same time, Roy flagged risks that may dominate investor debate, including the sustainability of hyperscaler spending amid concerns about an AI bubble and reports of an underwhelming GPT-5 rollout. 

Other challenges include possible fallout from U.S. export restrictions to China and margin pressures tied to the initial production of the GB300.

Additionally, Roy stressed Nvidia’s unmatched leadership in AI infrastructure. He noted that the GB300 is expected to deliver 50% higher FP4 performance than its predecessor, reinforcing its status as the industry benchmark for increasingly complex inference and reasoning workloads.

Wall Street turns bullish on Nvidia

Other analysts have also turned more bullish ahead of earnings, as reported by Finbold. UBS raised its price target from $175 to $205 on August 22 while maintaining a ‘Buy’ rating, projecting Nvidia to post $46 billion in quarterly revenue, about $1 billion above consensus.

Similarly, Evercore ISI lifted its target from $190 to $214, reiterating an ‘Outperform’ rating. The firm expects Nvidia’s earnings per share to grow 48% in 2025 and 39% in 2026, supporting what it views as an attractive valuation relative to growth.

Featured image via Shutterstock