Nvidia Strong Buy, $323 Target Before Q1 Earnings
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- Nvidia heads into its Q1 earnings report due on May 21 with high expectations.
- Simon Leopold of Raymond James kept a Strong Buy rating on NVDA and set a $323 price target.
- Nvidia’s product roadmap was described as having “plenty of room to grow,” with upcoming platforms such as Vera Rubin Ultra, Feynman, and Groq LPX.
- Nvidia’s AI inference business is ramping faster than expected, according to industry checks, and could see increased spending later this year.
- Nvidia’s 2027 P/E ratio fell to about 18×, below its long‑term median of 31× and the S&P 500’s 20×, reflecting discount concerns about competition.
- Wall Street analysts have a Strong Buy consensus on NVDA, with 40 Buys, 1 Hold, and 1 Sell in the past three months, and the average price target of $280.31 implies a 22.34% upside.
Why it matters: Investors could benefit from the projected upside as the $323 target exceeds the current $280.31 average, while the lower 2027 P/E suggests Nvidia may be undervalued despite competition concerns. The strong analyst consensus may buoy the stock ahead of earnings.
