Wells Fargo has raised its Nvidia price target to $1,150, citing improving H100 GPU lead times and the upcoming H200 ramp as potential drivers for data center revenue. Bank of America expects a beat but warns of increased stock volatility due to potential quarterly revenue deceleration ahead of the Blackwell chip launch and other factors. Deutsche Bank expects Nvidia to deliver "healthy multi-billion dollar beats/raises" due to strong demand for AI compute but believes the stock is "fully valued." Bloomberg Intelligence expects a "solid beat and raise," highlighting rising cloud capital-spending outlook and accelerating AI investments as key demand signals.
Key takeaways:
- Nvidia is set to report its first-quarter earnings results after the market close on Wednesday, with Wall Street expecting a continued increase in Nvidia's AI chip sales ahead of its next-gen Blackwell chip release.
- Estimates for Nvidia's first-quarter earnings report include a revenue of $24.69 billion, earnings per share of $5.34, and EBITDA of $16.74 billion.
- Analysts will be looking for updated guidance and views on the current supply-demand dynamic for Nvidia's AI-enabling chips, as well as gauging whether a slowdown in sales of its current-generation H100 chips is on the horizon.
- Various banks and financial institutions have given their predictions and ratings for Nvidia, with Wells Fargo rating it at 'Overweight' with a $1,150 price target, Bank of America rating it at 'Buy' with a $1,100 price target, and Deutsche Bank rating it at 'Hold' with a $850 price target.