Nvidia (NVDA) Stock: Wedbush and Truist Reiterate Buy Ahead of Earnings Wednesday

TLDR

• Nvidia reports Q4 FY26 earnings on February 25, with revenue forecast up 68% year-over-year to $66.1 billion.
• Wedbush reiterates Buy with a $230 price target; Truist holds Buy at $275.
• Wall Street consensus is Strong Buy — 32 Buys, one Sell — with an average target of $265.07.
• Competition from hyperscaler-designed chips and TSMC supply limits are the key risks.
• NVDA is up just 2.7% in 2026 after gaining over 40% in 2025.

Nvidia heads into its Q4 FY26 earnings report on February 25 with Wall Street expecting another strong quarter.

Analysts forecast adjusted EPS of $1.54, up over 70% from $0.89 a year ago. Revenue is expected to hit $66.1 billion — a 68% jump year-over-year.

NVIDIA Corporation, NVDA

The company has beaten revenue expectations in each of the last 13 quarters.

Wedbush analyst Matt Bryson reiterated a Buy rating with a $230 price target, implying around 20% upside. He expects Nvidia to beat estimates and guide above Street expectations, pointing to strong AI chip demand and a reliable supply chain as key advantages.

Truist Securities also holds a Buy, with a $275 target. It forecasts Q4 revenue of $66.07 billion and EPS of $1.53. For Q1 FY27, consensus calls for $72.7 billion in revenue, up 60% year-over-year.

Cloud providers are still raising AI infrastructure spending plans, and book-to-bill ratios are improving across the sector, according to Truist.

Risks: Competition and Supply

The picture isn’t entirely clean. Hyperscalers are increasingly building their own chips, which puts long-term pressure on Nvidia’s market position.

Google is reportedly in talks to supply Meta — one of Nvidia’s biggest customers — with its in-house TPU chips. AMD is also set to launch a new flagship AI server later this year.

On the supply side, TSMC’s 3-nanometer capacity is a bottleneck. Nvidia and its rivals are all competing for the same manufacturing slots.

“We think Nvidia will meet expectations, but it is hard to see them delivering much upside in light of TSMC capacity,” said Jay Goldberg of Seaport Research Partners.

China and the Upside Case

One potential boost: China. CEO Jensen Huang said last month he hopes to resume H200 chip sales there, with an export license reportedly being finalized. AMD has already received licenses to ship modified chips to China, setting a precedent.

Nvidia also agreed last week to sell millions of chips to Meta, though deal terms were not disclosed. It also holds a reported $20 billion chip licensing deal with Groq, aimed at strengthening its inference market position.

NVDA stock is up just 2.7% in 2026, well behind its 40%-plus gain in 2025. Investor sentiment has been weighed down by ASIC competition fears, data center financing concerns, and the DeepSeek scare earlier this year.

The average Wall Street price target sits at $265.07 — implying roughly 39% upside. The consensus rating is Strong Buy, based on 32 Buys and one Sell.

Wedbush’s Bryson also flagged Nvidia’s GTC developer conference in March as a key catalyst for the stock.

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