What Analysts Think of Nvidia Stock Ahead of Earnings

Nvidia (NVDA) is slated to report fiscal first-quarter results after the market closes Wednesday, with Wall Street expecting a record quarter from the world’s second-most valuable company.

Analysts on average expect Nvidia to report quarterly revenue of $43.38 billion, 66% higher year-over-year, and adjusted net income of $21.29 billion, or 87 cents per share, up from $15.24 billion, or 61 cents per share, a year earlier.

Wedbush analysts said the chipmaking titan will continue to be a beneficiary of huge investments in AI infrastructure from hyperscalers like Meta (META), Google parent Alphabet (GOOGL), Apple (AAPL), Amazon (AMZN), and Microsoft (MSFT). Spending on AI “in particular ends up flowing to [Nvidia] which supplies a disproportionate amount of the AI server value,” the analysts said. 

Analysts may ask CEO Jensen Huang about sales to China after the Trump administration earlier this year imposed tighter export controls. Nvidia has warned of a $5.5 billion charge due to restrictions on its H20 chip, and Huang reportedly called the export curbs a policy “failure” that is driving China to accelerate development of its own AI chips. 

Oppenheimer analysts expect the impact of the restrictions to be relatively modest. “We see upside … despite the loss of H20 sales to China,” the analysts said, noting that the country now makes up just 5% of Nvidia’s total sales.

Both Wedbush and Oppenheimer have “outperform” ratings for Nvidia stock, along with price targets of $175. Of the 18 analysts tracked by Visible Alpha, 16 have a “buy” rating for Nvidia stock, alongside two “hold” ratings. Their consensus price target near $164 would suggest about 25% upside from Friday’s closing price.

Shares of Nvidia have fallen slightly this year though are still up about 25% over the past 12 months.