Is Nvidia (NVDA) Stock a Buy Before Earnings Next Week?
TLDR
- Nvidia reports Q2 earnings on August 26, with revenue guidance of around $91 billion
- Stifel reiterates a $282 price target; Oppenheimer sets a $265 target, both expecting a beat
- NVDA trades at roughly 24.5x forward earnings, about 43% below its five-year average
- Q3 guidance is seen as the bigger story, with consensus expecting $103.5 billion in revenue
- Wall Street holds a Strong Buy consensus with an average price target of $305.86, implying 41% upside
Nvidia stock was up 0.4% in premarket trading at $218.46 on Wednesday, with earnings just days away. The stock is up 17% year-to-date but still trails the PHLX Semiconductor Index, which has surged 66% over the same period.
Earnings are due on August 26. Two major Wall Street firms are already calling for a beat.
Stifel analyst Ruben Roy reiterated a $282 price target this week, expecting Nvidia to top consensus estimates of $2.09 adjusted earnings per share on revenue of $91.96 billion. His target is based on 22 times his fiscal 2028 earnings forecast.
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