Key Takeaways
- Nvidia’s Q1 FY27 earnings announcement is scheduled for Wednesday, May 20.
- Analyst consensus projects EPS of $1.75, representing more than 100% growth year-over-year, with revenue estimates around $78.85 billion.
- Matt Bryson from Wedbush anticipates an earnings beat, projecting EPS exceeding $1.80 and revenue surpassing estimates by at least $2 billion.
- Morgan Stanley designated NVDA as its “top pick,” while both KeyBanc and D.A. Davidson increased their price objectives to $300.
- Shares of NVDA closed Monday at $222.23, with several analysts projecting upside potential ranging from 26% to 35%.
Nvidia’s fiscal first quarter 2027 financial results arrive Wednesday, May 20, and market watchers are paying close attention. Despite Monday’s 1.3% decline to $222.23, analyst optimism remains robust.
Wall Street’s consensus estimates point to earnings per share of $1.75 — representing more than 100% growth from the previous year — alongside revenue projections of approximately $78.85 billion, marking year-over-year expansion exceeding 75%.
Wedbush’s Matt Bryson believes these forecasts underestimate Nvidia’s performance. On Monday, he maintained his Buy recommendation with a $300 price objective, suggesting roughly 35% appreciation potential from present trading levels.
Bryson’s Q1 projections include EPS surpassing $1.80, up from his earlier $1.74 estimate. He also anticipates revenue will exceed his $78.01 billion projection by no less than $2 billion.
For the second quarter, Bryson forecasts earnings of $1.84 per share with revenue reaching $82.12 billion. He anticipates AI infrastructure investment momentum continuing throughout 2027.
Bryson identified potential headwinds — ambiguity surrounding Middle Eastern initiatives and possible restrictions on Chinese operations. However, he believes any clarity on these matters would more likely stimulate AI expenditure rather than suppress it.
Supply Chain Challenges Navigated Successfully
Bryson also examined the supply chain landscape. He observed widespread constraints throughout the AI hardware sector, encompassing shortages of cutting-edge chips, memory modules, optical components, and storage drives.
Nevertheless, he indicates Nvidia has successfully navigated around the most severe disruptions — a sentiment shared by D.A. Davidson analyst Gil Luria, who elevated his price target from $250 to $300.
“Nvidia understood the demand patterns first,” Luria explained, highlighting how the chipmaker adapted proactively to memory constraints and is now considering offering CPUs as independent products.
KeyBanc’s John Vinh similarly increased his target from $275 to $300, referencing robust demand for Blackwell Ultra GPUs alongside early Rubin GPU deliveries. He maintained his Overweight rating.
Focus on Inference Capabilities and Computex Announcements
Beyond topline figures, market participants are eager to understand Nvidia’s strategy for AI inference — executing trained models rather than training them — where competition intensifies from entities like recently public Cerebras Systems.
Joe Moore from Morgan Stanley, who promoted Nvidia to his firm’s “top pick” in March, anticipates a “typical beat and raise pattern” and increased his price target from $260 to $285. His rating remains Overweight.
Moore acknowledged that rebuilding investor confidence in the Nvidia narrative has required patience, particularly as optical networking firms and other AI-adjacent investments have recently captured market attention.
Vinh from KeyBanc anticipates Nvidia will unveil standalone CPU server configurations at the Computex technology conference in Taiwan during early June — representing a significant diversification beyond its GPU dominance.
Freedom Capital Markets’ Paul Meeks highlighted that Nvidia currently trades at approximately 20 times projected fiscal 2028 earnings, with adjusted earnings growth estimated at 73% for FY2027 and 36% for FY2028.
The Street’s aggregate consensus rating on NVDA stands at Strong Buy — comprising 40 Buy ratings, one Hold, and one Sell over the last three months. The mean 12-month price target reaches $281.59, indicating 26.6% upside potential from current price levels.
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