Raymond James analyst raises Nvidia's price target to $515, signaling massive upside potential
Following a strong earnings report where sales more than doubled and adjusted profits exceeded expectations, Raymond James analyst Simon Leopold raised his price target for Nvidia (NVDA) from $352 to $515. This new target is significantly higher than the current Wall Street consensus of $322.95 and implies a potential 126% upside from the stock's latest closing price of $227.98. Leopold, who holds a Strong Buy rating on Nvidia, argues that supply constraints—not demand—are currently limiting growth. He sees significant long-term revenue potential for the company, with management projecting 70% fiscal Q3 sales growth and up to 100% annualized growth in data center revenue. The analyst's $515 target implies a staggering $12.4 trillion valuation if share count remains stable—more than double Nvidia’s current market cap of around $5.49 trillion. While other major banks also raised their price targets after the earnings report, none came close to Leopold’s aggressive forecast.
Tickers: $NVDA
Topics: Earnings Performance Nvidia Stock Price Target Wall Street Analysts