Nvidia Corporation (NVDA  ) shares are trading lower on Thursday, despite beating analyst estimates for first-quarter revenue and earnings per share. Here's why analysts are raising their price targets on the stock going forward. The Nvidia Analysts

  • Bank of America Securities analyst Vivek Arya reiterated a Buy rating, raising the price target from $320 to $350.
  • Wedbush analyst Dan Ives maintained an Outperform rating with a price target of $300.
  • Rosenblatt analyst Kevin Cassidy maintained a Buy rating with a price target of $325.
  • Needham analyst Quinn Bolton maintained a Buy rating and raised the price target from $240 to $270.
  • JPMorgan analyst Harlan Sur reiterated an Overweight rating and raised the price target from $265 to $280.
Bank of America: A strong beat and raised guidance "speaks volumes," Arya said in a new investor note. The analyst said investors should "ignore noise" and buy the stock.

Its $91 billion outlook is inline with bullish expectations, leading to usual post-call volatility, Arya said. The company's stock declined on three of the last four earnings calls. "We ignore the noise," he added.

Wedbush: "NVDA remains king of the AI castle," Ives said, crowning CEO Jensen Huang the "Godfather of AI."

Nvidia beat Street expectations and provided robust guidance across the board, he added. The company remains "well-positioned on top of the AI mountain."

Ives highlighted Nvidia's ramp of the Blackwell 300 products and growing data center revenue, along with new revenue opportunities in the Edge Computing segment.

"We continue to believe Street estimates for Nvidia are being significantly underestimated over the next few years, given the global demand story for the AI Revolution."

As investors better grasp Nvidia's scale and role in the fourth industrial revolution, the stock could rally further, Ives said.

Rosenblatt: Cassidy highlighted the strong first-quarter beat and impressive new product pace in a new investor note.

"Nvidia delivered another earnings report that beat consensus with record revenue, income and free cash flow, driven by Blackwell GPUs being the fastest new product ramp in the company's history," Cassidy said.

The analyst also highlighted Nvidia's plan to return 50% of free cash flow to shareholders through an $80 billion buyback and a dividend increase. The move is a potential catalyst for the stock, given the company's leadership in AI.

Needham: Bolton highlighted the $1 trillion Blackwell and Rubin opportunity along with increasing opportunities for Nvidia in CPU in a new investor note.

"Standalone Vera CPU opportunity could allow for NVDA to become the largest CPU vendor in the world with visibility to $20 billion in revenue in FY27," Bolton said. "New revenue segments demonstrate diversification from hyperscalers."

J.P. Morgan: Strong data center demand drove a solid beat and raise for the quarter.

Sur highlighted the company's increasing total addressable market thanks to Vera CPU opportunities.

"In a continuation of what has become typical form of late, NVDA delivered results and guidance that landed solidly ahead of Street and buy-side expectations, reaffirming its leadership position in AI compute and its increasing momentum in networking for AI infrastructure," Sur said.

The analyst said guidance assumes no contribution from China data center compute, which means any traction could represent pure upside to estimates.

"We believe NVIDIA continues to execute across all segments."

Nvidia Price Action

Nvidia stock is down 1.2% to $221 on Thursday versus a 52-week trading range of $129.16 to $236.54.