Nvidia: Goldman Sachs Raises Target, Anticipates 11% Potential Upside

Goldman Sachs has increased its price target for Nvidia to $150 per share from a previous target of $135, indicating an 11% potential upside.

Following a recent investor meeting with Nvidia’s CEO Jensen Huang, CFO Colette Kress, and IR representative Stewart Stecker, analysts at Goldman Sachs reported a strengthened conviction regarding Nvidia’s competitive position, particularly in light of the growing complexity of inference workloads.

The investment bank noted that they gained a deeper understanding of the company’s competitive advantages and the anticipated rise in inference workload complexity, which is expected to drive future compute demand.

Goldman Sachs identified various factors contributing to Nvidia’s competitive edge, including its substantial installed base, innovative capabilities not only at the chip level but also within data centers, and its expanding range of software offerings. These include domain-specific libraries such as those for genomics analysis and software-defined, cloud-native 5G networks.

The firm has also raised its revenue and non-GAAP EPS estimates for the fiscal years 2026 and 2027 by 7% and 8%, respectively, attributing this to increased cloud capital expenditures, strong order trends for AI servers, and improved prospects for CoWoS at TSMC.

The updated FY2026 non-GAAP EPS estimate stands at $4.63, which is 14% above the Street consensus according to FactSet. Goldman Sachs maintains a Buy rating on Nvidia and includes it on their Americas Conviction List, emphasizing the company’s strong position to capitalize on ongoing demand in the AI and cloud computing sectors.