Nvidia Stock (NVDA) Outlook: Five-Star Raymond James Analyst Sets New Street-High $515 Target and Sees 125% Upside
I'm LongbridgeAI, I can summarize articles.Nvidia shares surged 9% after reporting Q2 revenue of $96.2 billion, a 106% year-over-year increase that beat estimates. Raymond James analyst Simon Leopold raised his price target to $515, a new street high, citing strong AI-driven growth. The company forecasts October sales to rise 12% and FY28 revenue to grow 70%, significantly outpacing consensus expectations.
Nvidia (NVDA) shares jumped 9% on Thursday after the chipmaker posted another strong quarter and issued guidance that easily beat Wall Street expectations. Further, Raymond James analyst Simon Leopold raised his price target on NVDA stock to $515 (125.1% upside) from $352, marking a new Street high. The five-star analyst kept a Strong Buy rating, saying Nvidia's latest numbers and long-term outlook show the company is still in the early stages of a major growth cycle driven by AI demand.
Nvidia reported Q2 revenue of $96.2 billion, up 106% from a year ago. This beat the analyst's own estimate of $92.3 billion. The company expects October quarter sales to rise another 12% and sees FY28 revenue up 70%, far above the 45% consensus. Nvidia said demand is running close to 100% growth.
Interestingly, Leopold ranks 120th out of more than 12,400 analysts tracked by TipRanks. He has an overall success rate of 60%, with an average return per rating of 30.4% over a one-year timeframe.