Piper Sandler Sets New Price Target on Nvidia Amid Strong Earnings and AI Growth
On September 12, 2026, Piper Sandler initiated coverage of Nvidia (NVDA) with an overweight rating and a $300 price target. The firm argues that despite its market cap exceeding $5 trillion, the stock remains undervalued due to strong earnings growth and dominant AI compute leadership. Nvidia reported Q1 revenue of $96.2 billion, up 106% year-over-year, with data center sales accounting for nearly all of it. The company's adjusted quarterly earnings reached $2.22 per share, showing a significant increase from fiscal 2026’s annual figure of $4.77. Piper Sandler forecasts Nvidia revenue to grow at an average rate of 47% annually through fiscal 2030 and estimates that AI compute demand will remain strong for the next two to three years, driven by agentic workloads.
Tickers: $NVDA