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Nvidia’s Blowout Earnings: How High Can the Stock Go Now?

NVIDIA just delivered one of the most staggering quarters in corporate history, yet the stock trades as if Wall Street missed the memo. Whether that gap closes toward $350 depends on three things falling into place at exactly the right…

By Vandita Jadeja
Published August 27, 2026, 10:30am ET · 3 min read

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A detailed, angled close-up of a dark grey Nvidia microchip with gold connector pins, glowing green, floating slightly above a dark grey circuit board also bearing a green Nvidia logo. Streams of glowing green particles emanate from beneath the floating chip, curving upwards and to the right against a dark background, suggesting data or energy flow. The circuit board features various metallic and dark components with intricate electronic traces.
An Nvidia semiconductor chip illuminates a circuit board, symbolizing the advanced technology at the heart of the artificial intelligence revolution. Its crucial role highlights the intricate connection between high-tech processing and critical material supply chains, such as gallium. © Shutterstock

NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) just posted one of the most consequential quarters in corporate history, and the stock barely flinched. NVIDIA reported Q2 FY27 revenue of $96.22 billion, up 105.8% year over year, with Data Center alone pulling in $89.02 billion.

Yet shares closed at $209.66, up just 12.55% year to date. CEO Jensen Huang told investors “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.” Can NVIDIA reach $350 in 2027? Here is the case.

NVDA price target

Why NVDA Shares Are Lagging Their Fundamentals

NVDA is down 3.63% over the past week despite blowout results, and the 1-year return of 15.49% trails fundamentals badly. With a beta of 2.215, this is volatile. Three concerns weigh on investors:

  • no China Data Center compute revenue in the Q3 outlook
  • Gross margins guided from 75% down to 74% in Q3, expected to bottom in the 71% to 72% range in Q4 as memory prices climb
  • $279 billion in supply commitments and $108.5 billion in guarantee obligations feed a “circular financing” narrative around frontier AI labs

DSO stretched to 60 days from 45. The market is quietly asking whether growth this large is sustainable.

Wall Street’s $304 Target May Be Too Cautious

The Street’s average price target sits at $304.73, with coverage heavily bullish: 10 strong buy, 48 buy, 2 hold, 1 sell. Our internal model pins base case at $285.68 with high confidence, bull case at $326.58, and bear case at $244.22.

Quarterly earnings growth accelerated 214.5% year over year, and management guided fiscal 2028 revenue to grow approximately 70%. Analyst sentiment is 95% bullish, but consensus targets have not repriced to that trajectory.

When Huang says “At this moment, we have supply for 70%. We have more supply than 70%, but about 70%. Our demand is much higher than that”, the case for a higher multiple is math the models have not caught up to.

NVDA analyst ratings
Infographic titled 'NVIDIA Stock: The Path to $350' on a dark blue background. It displays financial predictions and targets for NVIDIA stock. The 'Price Prediction & Target' section shows 'Blast Predicted Price: $285.68' and 'Bold Target: $350.00'. 'Valuation at $350 Target' lists 'Forward EPS: $9.91' and 'Implied P/E: 35.3x'. An upward arrow indicates 'Upside % Required to Hit Target: +66.9%'. 'Reddit Sentiment Score' is 'SCORE: 64' and 'BULLISH'. The 'Scenarios' section presents 'BULL CASE PRICE (TrailingBased): $326.58' and 'BEAR CASE PRICE (ForwardPEBased): $244.22'. The logo '24/7 Wall St.' is in the bottom right corner.
24/7 Wall St.

Path to $350 Per Share

Reaching $350 from today’s price of $209.66 would require a gain of 66.9%. With forward EPS of $9.91, a price of $350 implies a forward P/E of 35x.

Our base case of $285.68 already implies 30x, so the bold target requires roughly 5x additional multiple expansion. NVDA currently trades at a forward P/E of just 24x, meaning I am arguing for modest re-rating on genuinely accelerating earnings. Catalysts are stacked:

  • Vera Rubin is in full production and expected to be NVIDIA’s fastest ramp ever
  • Revenue opportunity per gigawatt jumps from $25 billion (Blackwell) to $40 billion (Vera Rubin)
  • AWS just committed to 2 million additional GPUs
  • Cloud backlog exceeds $2 trillion
  • Top-five hyperscaler capex is tracking toward $1.3 trillion in 2027

Q3 revenue guidance of $108 billion, plus or minus 2% is compounding revenue. The buildout behind those numbers has to be powered, cooled, and networked by somebody, and we rounded up seven of those suppliers in a free report on the AI infrastructure names that aren’t chipmakers.

Risk: memory cost inflation could delay the re-rating into fiscal 2028.

NVDA price scenario

Where NVIDIA Trades Vs Its Earnings Power

At $209.66 against $9.91 in forward EPS, NVDA trades near 21x forward earnings. For a company growing revenue over 100% year over year at 75% gross margins and 65.6% operating margins, that looks cheap.

Shares sit between a 52-week low of $163.85 and a high of $236.26. Over the last decade the stock has returned 13,660.88%. The bull case rests on earnings power compounding faster than the multiple compresses.

Is $350 Realistic?

$350 requires a gain of 66.9% from today’s $209.66. A stretch, but not a fantasy.

Three things need to go right: Vera Rubin ramps cleanly without supply chain slippage, gross margins recover to the 72% to 73% range in fiscal 2028, and Wall Street re-rates the multiple as FY28 growth crystallizes. The key risk: any credible signal that hyperscaler capex is peaking. We’ve outlined the blueprint for how NVIDIA could reach $350 in 2027.

Contact [email protected] for any questions or corrections.

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Vandita Jadeja

Vandita Jadeja is a financial publisher with over a decade of experience writing about financial topics, including investment, savings, retirement, insurance and banking. Vandita is a Chartered Accountant who loves to debunk financial concepts for readers.

Her work has appeared on sites that include The Motley Fool, InvestorPlace, and Benzinga. She covers investing and focuses on stock picks and price prediction for 24/7 Wall St.

When not looking for the next stock investment opportunity, she can be found traveling, reading, chasing sunsets and enjoying her iced latte.

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