Nvidia Stock Climbs as BMO Sees Revenue Beat Ahead of Earnings Report

Nvidia's stock price rose by 2% on Tuesday as BMO Capital maintained its 'Outperform' rating and set a $340 target ahead of the company's upcoming earnings report.

The analyst expects Nvidia to beat revenue estimates for both the second and third quarters, with projected sales ranging from $94 billion to $95 billion in the second quarter and exceeding estimates by a similar amount in the third quarter.

BMO sees sustained data-center demand as a key driver of Nvidia's growth, as well as the ramp-up of its Vera Rubin platform in the second half of 2026. The analyst also highlighted the potential for increased sales from the combination of the Rubin NVL72 and Groq3 LPX systems.

With BMO's optimistic outlook, investors are looking to Nvidia's earnings report on Wednesday to determine whether recent optimism is justified.