Multiple Firms Raise NVIDIA Stock Targets After Strong Revenue Growth

NVIDIA Corporation has delivered a strong financial performance, reporting $44.1 billion in revenue for the April quarter, surpassing analyst expectations and demonstrating a 114.2% year-over-year growth. Multiple analysts, including Mizuho Securities, Cantor Fitzgerald, and Truist Securities, have raised their price targets for NVIDIA's stock, highlighting the company's robust financial health, with a perfect Piotroski Score of 9, and optimistic revenue guidance around $45 billion for the July quarter. Demand for NVIDIA's AI-related products, particularly the Blackwell GPU line, is accelerating, driven by data centers, cloud service providers, and advancements in AI technologies such as reasoning AI and enterprise AI agents. Despite export control challenges, NVIDIA continues to expand its market presence, with strong order growth following its GPU Technology Conference and favorable regulatory developments like the rescission of AI diffusion rules. Additionally, NVIDIA's significant stake in CoreWeave, a cloud infrastructure company specializing in GPU-accelerated computing, underscores its strategic positioning in the AI cloud services market, as CoreWeave reported a 420% revenue increase in its recent earnings. Overall, NVIDIA is viewed as a key player in the ongoing AI revolution, with analysts projecting continued revenue and margin growth amid strong market demand.