Analyst updates Nvidia stock price target after blockbuster earnings

Core Viewpoint - Nvidia's recent earnings report has led to a bullish outlook from Wall Street analysts, with a significant price target increase reflecting strong performance and optimistic future guidance [1][3][7]. Financial Performance - Nvidia reported quarterly revenue of $68.13 billion, surpassing expectations of $66.21 billion [4]. - Earnings per share (EPS) were reported at $1.62, exceeding the anticipated $1.53 [4]. Future Guidance - The company expects revenue to reach $78 billion by the end of the current quarter, projecting annual sales to approach approximately $300 billion by the fiscal year's end [6]. Analyst Ratings - Cantor Fitzgerald analyst C.J. Muse maintained a 'Buy' rating and set a 12-month price target of $300, indicating a potential 52.45% increase from the current price of $196.79 [2][3][7]. - Other analysts, including Bank of America's Vivek Arya, also revised their price targets upward to $300, while Needham's Quinn Bolton projected a more conservative target of $240 [7][8]. - Additional positive recommendations came from JPMorgan, Morgan Stanley, William Blair, and Keybanc, with price targets ranging from $260 to $275 [8].