Nvidia Gets Overweight Rating from Piper Sandler on AI Demand

Piper Sandler has initiated coverage of Nvidia Corp. (NVDA) with an overweight rating, citing its leadership position in AI compute and graphics processing units.

The firm notes that Nvidia holds an 80% market share in AI compute and 50% unit share, with a $5.4 trillion market cap and 83% revenue growth over the last twelve months.

Nvidia's strong fundamentals and future growth prospects have led to a price target of $300.00, based on a 14 times multiple applied to calendar year 2028 estimates.

Piper Sandler also expects Nvidia's revenues to grow at a 47% compound annual growth rate through fiscal year 2030, with earnings growing at a similar rate to $30 per share.