Nvidia Stock Stuck Despite Record-Breaking Quarter, Can It Reach $350?
Nvidia's shares have been stuck in neutral despite posting the largest single quarter in semiconductor history. The company's Data Center revenue hit $89.02 billion in Q2 FY27, up 117% year over year.
CEO Jensen Huang said 'AI has reached its inflection point,' but shares are down 3.63% over the past week and up only 6.69% over the past month. One-year returns of 15.49% lag the underlying earnings trajectory.
Analysts are nearly unanimous in their bullish views, with a consensus target of $304.73 and a strong buy rating from 10 analysts. However, our internal model puts the base case at $289.96 and the bull case at $334.53.
To reach $350 per share, Nvidia would need to see significant multiple expansion, but this is not unprecedented for the company. In fact, the stock has repeatedly punished those anchored to short-term multiples, with a 10-year return of 13,660.88%.