D.A. Davidson reiterated a Buy rating for Nvidia Corporation (NASDAQ:NVDA), keeping its price target unchanged at $250.00 - a level set above the stock's recent trading price of $191.55. The firm points to valuation signals that suggest the chipmaker remains compelling, with analyst targets spanning from $140 to $352 in the broader market assessment.
The research note highlights two valuation and growth indicators. First, a Fair Value analysis continues to place Nvidia in a zone some market participants view as undervalued. Second, the company reported 65% revenue growth and is trading at a PEG ratio of 0.79 - figures the firm cites as evidence of strong fundamentals paired with an attractive growth-adjusted valuation.
D.A. Davidson also flagged a shifting market context ahead of Nvidia’s fiscal fourth-quarter earnings report, scheduled to be released on Wednesday after the close. For the first time in several years, the firm observed, Nvidia may not act as the same broad market bellwether it once did, as investor flows have chased a wider set of AI beneficiaries.
Indeed, the market has already allocated capital to a range of AI winners beyond Nvidia - including major cloud players, infrastructure chipmakers, memory-chip manufacturers and optical equipment companies. According to D.A. Davidson, that dispersion of investor interest creates an opening: while some peers’ valuations appear to embed expectations for a multi-year AI cycle, the firm believes Nvidia’s current share price already reflects a peak in AI demand by 2026.
The rating and $250.00 target were left unchanged from the firm's prior view. Investors seeking additional detail on Nvidia’s valuation and growth outlook are directed to the firm’s longer-form Pro Research Report, which is offered for this company and more than 1,400 other US equities.
Other broker commentary and estimates circulating ahead of Nvidia’s results reinforce the idea of continued robust demand. Truist Securities projects Nvidia’s fiscal fourth-quarter revenue at $66.07 billion, a 67% increase year-over-year, and expects diluted earnings per share of $1.53. Truist’s outlook extends into the fiscal first quarter, where the firm models revenue of $72.7 billion - a 60% year-over-year gain.
Cantor Fitzgerald reiterated an Overweight rating on the company, pointing to strong AI demand and forecasting potential earnings per share of $9.00 and $12.00 for fiscal years 2026 and 2027, respectively. Morgan Stanley likewise maintains an Overweight stance and expressed high confidence in Nvidia’s full-year outlook.
Market technicians and institutional flow watchers have also flagged momentum. Raymond James noted that Nvidia’s shares were exhibiting signs consistent with a potential short-term rally, citing positive price momentum and rising buying pressure from institutional investors.
Regulatory conversation is another element to monitor. Jefferies called attention to growing public concern over artificial intelligence in the United States, which the firm said could prompt heightened state-level regulatory activity - a trend it linked to the introduction of more than 1,200 AI-related bills in 2025. These regulatory dynamics add another dimension to Nvidia’s positioning as the company navigates both market demand and an evolving policy environment.
Taken together, the array of analyst ratings, earnings models and regulatory observations underline Nvidia’s central role in the technology landscape as investors weigh growth prospects, near-term earnings and longer-term demand cycles for AI-related compute.