On May 29, Piper Sandler lifted the price target on NVIDIA Corporation (NASDAQ:NVDA) stock from $150 to $180, reaffirming its Overweight rating on the shares.
Harsh Kumar from Piper Sandler raised the price target on the chip maker after Nvidia’s strong quarterly results. Nvidia exceeded Q1 2025 earnings and revenue estimates of Wall Street, with revenue of $44.06 billion, surpassing estimates by $813.46 million and up 69% year-over-year. The earnings came in at $0.81 per share, surpassing the $0.74 consensus.
The company mentioned that Blackwell chips are in full production, playing a key role in Nvidia’s growth in the global AI market. Kumar believes that the improved control over Blackwell manufacturing will help Nvidia’s gross margins recover to 72% in Q2.
NVIDIA Corporation made notable progress across data centers with revenues reaching $39.1 billion, reflecting a 73% growth from a year ago. Kumar praised Nvidia’s “strong April quarter,” which exceeded expectations despite China-related challenges. The analyst believes that Nvidia’s core business remains solid, driven by “insatiable demand for inference” across major partners and customers. Nvidia’s $45 billion revenue forecast for Q2 is strong, even though it falls a little short of Wall Street’s $45.8 billion estimate, Kumar cited. The analyst expects Nvidia’s revenue to grow 22% sequentially, excluding the $8 billion impact from China, indicating the fastest growth in the last six quarters.
NVIDIA Corporation is a computing infrastructure company that provides graphics, computing, and networking solutions globally.
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