Goldman Sachs sees Nvidia’s outperformance continuing from here. The bank maintained its buy rating and lifted its price target on Nvidia heading into the chipmaker’s next earnings release, slated for Nov. 19. Goldman Sachs’ 12-month price target of $240, up from $210, implies that the stock could rise another 18% from here. Analyst James Schneider believes that Nvidia is expected to meet investors’ high expectations heading into the print. “We believe investor expectations have increased heading into the quarter given multiple AI infrastructure announcements and following the company’s recent GTC event,” he wrote. “We expect Nvidia to deliver a beat-and-raise quarter, with the stock reaction likely hinging on the level of upside to guidance.” NVDA YTD mountain NVDA YTD chart The analyst’s fiscal third and fourth quarter earnings per share estimates of $1.28 and $1.49 are respectively 3% and 5% above Wall Street consensus, he wrote. Schneider also raised his datacenter segment revenue estimates by 13%. The analyst believes four focal points could move the stock after Nvidia releases its earnings. These are incremental details on the company’s $500 billion revenue forecast, details on OpenAI deployments, the ramp of its Rubin chip next year and the potential for Nvidia to resume its China business. Increased visibility and commentary will also impact the stock from here, Schneider added. “We expect the debate around: (1) the magnitude of upside to hyperscaler CapEx; (2) contribution from non-traditional customers in CY26 to dictate stock price action into year end,” he wrote. “We expect the stock to continue to trade on quantitative datapoints that provide visibility to CY26 estimates.” Shares of Nvidia have surged 51% this year.
