Goldman Sachs is reiterating its bullish stance on Nvidia shares, whose recent rally has driven its market capitalization to $5 trillion.
According to Goldman Sachs, Nvidia’s stock rally is far from over.
Following the incredible milestone reached by the AI chip giant’s market capitalization, which hit $5 trillion, the all-time record for any publicly traded company, Goldman Sachs’ research division confirmed its Buy rating on the stock, raising its 12-month price target from $210 to $240.
Goldman Sachs sees 18% upside for Nvidia over the next 12 months
Goldman Sachs’ price target implies an 18% upside potential, announced ahead of the publication of the US Big Tech company’s quarterly results, which the market will know on November 19, 2025.
Goldman Sachs analyst James Schneider justified his view by noting that the AI giant will meet market expectations for its upcoming quarterly results, which are quite high. "We believe investor expectations have risen throughout the quarter, driven by several AI infrastructure announcements and the group’s recent GPU Technology Conference (GTC)," during which Nvidia unveiled new AI and data center initiatives.
Schneider also said he expects a "beat-and-raise" quarter, characterized by better-than-expected financial results and guidance that will be revised upward, adding that the stock’s reaction will depend on the extent of any upward revision to guidance.
Goldman Sachs estimates Nvidia’s fiscal Q3 EPS at $1.28, exceeding Wall Street analysts’ consensus by 3%.
For Nvidia’s fiscal fourth quarter, Schneider expects EPS of $1.49, exceeding consensus expectations by 5%.
The Wall Street banking giant also raised its data center revenue estimates by 13%.
Goldman Sachs outlines four key drivers that could influence Nvidia’s stock performance.
According to Goldman Sachs, there are 4 key factors that could impact Nvidia’s stock price following the quarterly earnings release:
- Further details on the company’s $500 billion revenue outlook.
- Details on OpenAI projects.
- Information on the Rubin chip production expected next year.
- The possibility of Nvidia resuming operations in China.
The Goldman Sachs expert added that increased visibility and further commentary from the AI champion will be other variables that will impact the stock.
“We expect the debate to center on (1) the magnitude of hyperscalers’ capex increases and (2) the contribution from non-traditional customers in 2026, which could influence the stock’s performance through year-end”
Schneider also believes that Nvidia stock “will continue to be driven by quantitative models, providing better visibility into 2026 estimates.”
Meanwhile, on Wall Street, Nvidia shares ended the trading day last Friday, October 31, at $202.49, down 0.20%, compared to a market capitalization of $4.92 trillion, down from the all-time high of $5 trillion, never previously reached by a publicly traded company.
NVDA shares have jumped 5.74% over the last five trading days on the US stock exchange, jumping 9.14% over the past month and gaining 12.5% over the last three months of trading on Wall Street.
Year-to-date (YTD), the stock is up nearly 51%, while on an annual basis the stock has gained nearly 50%.
Nvidia is scheduled to report fiscal Q3 2026 results on November 19, covering the quarter ended October 26, 2025.
Original article published on Money.it Italy 2025-11-03 08:30:15. Original title: Azioni Nvidia, arriva il premio Goldman Sachs prima della trimestrale
