Nvidia Stock (NVDA) Is on Fire—But Can the AI Boom Keep It Going?
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Much of that strength is tied to ongoing demand for Nvidia's AI chips. Its latest Blackwell platform is witnessing strong adoption, with cloud players like CoreWeave (CRWV) deploying Blackwell-powered servers in their data centers. Nvidia has also partnered with companies like Dell Technologies (DELL), Hewlett Packard Enterprise (HPE), and Super Micro Computer (SMCI) to deliver Blackwell-based systems globally.
Why Wall Street Is Still Bullish on NVDA
Analysts say early demand for Blackwell is encouraging, and with earnings and growth holding strong, many believe there's still room for the stock to climb. In its Q1 FY26, Nvidia posted $44.06 billion in revenue, up 69.2% year-over-year, driven by record demand in its data center segment. Also, earnings per share came in at $0.81, which beat analysts' consensus estimate of $0.74 per share.
Recently, Goldman Sachs analyst James Schneider began coverage on Nvidia with a Buy rating and a $185 price target. He pointed to the company's leadership in AI and rising demand across industries. Despite the stock's strong run, Schneider sees more upside ahead and views it as a solid entry point for long-term investors.
Several top firms share the same view. Bernstein, UBS, and Citi have all reiterated Buy ratings, with price targets between $175 and $200. Analysts see Nvidia as more than just a chipmaker—they view it as the core supplier of the tools that power AI across the globe.
All Eyes on August Earnings
The next big catalyst is Nvidia's Q2 FY26 earnings report, expected on August 27. Wall Street analysts expect the company to post earnings of $1.00 per share, on revenue of $45.62 billion. Investors will be watching closely to see if the company can keep up its strong growth. A key watch point is China-related headwinds, after Nvidia took a $4.5 billion hit to Q1 FY26 revenue due to U.S. export restrictions on its H20 chips.
If the company gives strong guidance or raises its outlook, the stock could break out again. But if the update falls short, or if China worries return, there could be some short-term pressure.
Is Nvidia a Good Stock to Buy?
According to TipRanks, NVDA stock has received a Strong Buy consensus rating, with 37 Buys, four Holds, and one Sell assigned in the last three months. The average Nvidia stock price target is $176.29, suggesting a potential upside of 6.89% from the current level.
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