The chipmaker is expected to report adjusted earnings per share of $1.01 and revenue of $46 billion for the second quarter of the fiscal year 2026, up sharply from the year-ago’s $0.68 and $30.04 billion, respectively.
Nvidia Corp. (NVDA) stock edged up in the early premarket session on Monday as the artificial intelligence (AI) frontrunner prepares to unveil its quarterly results late Wednesday. Ahead of the earnings release, the chipmaker’s stock received a price target boost from Baird.
After declining for three straight sessions last week amid the tech sell-off, Nvidia’s stock rebounded by 1.72% on Friday as Federal Reserve Chair Jerome Powell offered cheer by hinting at a Fed funds rate cut in September.
In a note published Monday, Baird analyst Tristan Gerra raised his fiscal year 2026 revenue and earnings per share (EPS) estimates for Nvidia, citing a “significant acceleration in GB200 sell-through shipments in July and expected ongoing shipment momentum.”
GB200 is Nvidia’s advanced AI accelerator based on the Blackwell architecture.
The analyst said shipments to Elon Musk-founded AI startup, xAI, will be weighted toward the fourth quarter.
Gerra expects TSMC’s (TSM) CoWoS-L capacity to nearly double year-over-year (YoY), while total CoWoS capacity is expected to be up 50% in each of 2026 and 2027. CoWoS, which stands for “chip-on-wafer-on-substrate,” refers to TSMC’s advanced packaging technology that offers the advantage of a larger package size and more I/O connections.
The Baird analyst stated that Nvidia is on track to begin shipping GB300 units in late September. “GB300 has been sampling for the past few months to key data center ODMs, with no system-level implementation issues,” he added.
Gerra views that the AI GPU competitive landscape remains very favorable to Nvidia for the second half of the year and next year.
Baird reiterated its ‘Outperform’ rating on Nvidia and upped the price target for the stock to $225 from $195.
According to the Fly, other firms, which recently tinkered with their price targets for Nvidia stock include:
- Stifel: maintained an ‘Outperform’ rating, raised the price target to $212 from $202
- Evercore ISI: maintained an ‘Outperform’ rating, upped the price target to $214 from $190
- UBS: maintained a ‘Buy’ rating and lifted the price target to $205 from $175
- Wedbush: maintained an ‘Outperform’ rating and increased the price target to $210 from $175
According to Fiscal.ai-compiled estimates, Nvidia is expected to report adjusted earnings per share (EPS) of $1.01 and revenue of $46 billion for the second quarter of the fiscal year 2026. This marks a sharp increase from the year-ago’s $0.68 and $30.04 billion, respectively.
On Stocktwits, retail sentiment toward Nvidia stock stayed ‘bullish’ (62/100) by early Monday, but the message volume was ‘normal.’
NVIDIA’s stock has gained about 33% this year.
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