Nvidia (NVDA) has earned multiple Buy ratings from Wall Street analysts ahead of its Q4 earnings report on February 26. Yesterday, analysts from Oppenheimer, UBS, and HSBC reaffirmed their Buy recommendations, reflecting strong confidence in the company’s upcoming performance. Overall, analysts project nearly $38 billion in revenue for Q4 FY25, reflecting a 72% year-over-year increase.
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UBS Maintains Buy on “Strong Set of Results”
Four-star-rated analyst Timothy Arcuri at UBS expects “a strong set of results” with guidance matching or exceeding Q1 FY26 forecasts of roughly $42.5-$43 billion in total revenue and $38.5-$39 billion in data center revenue. Arcuri’s price target of $185 projects a growth rate of 33% in NVDA stock from the current levels.
Additionally, Arcuri noted that Nvidia recognizes revenue for its Blackwell products when compute boards are shipped instead of waiting for OEM/ODM partners to ship racks. Consequently, he believes that the supply chain is successfully managing the short-term gap between the current increase in compute board shipments and the upcoming ramp-up of Blackwell GB200 rack shipments in March.
Similarly, Oppenheimer reiterated its Buy rating on NVDA stock, predicting an upside of 26%.
HSBC Reduces NVDA Price Target yet Remains Bullish
Meanwhile, HSBC analyst Frank Lee reduced his price target for NVDA stock by $10, setting it at $175 after revising its data center revenue projections. Despite the adjustment, Lee reaffirmed his Buy rating, expecting the Blackwell platform to offset a slower-than-anticipated ramp-up of the GB200.
Furthermore, Lee stated that Nvidia is set for strong Q4 FY25 and Q1 FY26 performance as the surge in B200 production is set to boost Blackwell’s revenue. HSBC forecasts Nvidia’s Q4 fiscal 2025 revenue to hit $40 billion, surpassing consensus estimates of $38.2 billion, while expecting Q1 fiscal 2026 revenue to reach $42.2 billion.
Notably, both GB200 and B200 use Blackwell architecture, but the GB200 features built-in HBM (high bandwidth memory) for high-end AI tasks, while the cost-effective B200 relies on external memory for mainstream applications.
Is Nvidia a Buy or Sell?
According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 35 Buys and three Holds assigned in the last three months. At $178.56, the Nvidia average share price target implies a 28.25% upside potential.
Year-to-date, NVDA stock has gained 3.7%.
