NVDA Stock Looks 'Remarkably Cheap', Says Wall Street After Beat-And-Raise Q1 — Analyst Sees Nvidia Market Cap Soaring Past $10 Trillion

• Baird raised its price target for Nvidia to $500 from $300, implying an upside potential of 124% from the stock’s closing price on Wednesday. 
• With Nvidia’s market capitalization currently at $5.41 trillion, Baird’s new price target implies it could surpass $10 trillion.
• Analysts at BofA brushed aside the decline in Nvidia shares post earnings, urging investors to look past the short-term volatility.

Nvidia Corp. (NVDA) shares look “remarkably cheap” following the company’s beat-and-raise first quarter (Q1) results, according to analysts at Jefferies.

According to TheFly, Jefferies attributed Nvidia's strong Q1 performance to accelerating uptake of Blackwell chips, while raising the price target for NVDA stock to $300 from $275 and maintaining a ‘Buy’ rating.

Nvidia shares were down 1% in Thursday’s opening trade. NVDA was among the top trending tickers on Stocktwits at the time of writing.

Wall Street Sees NVDA Market Cap Soaring Past $10 Trillion

Nvidia’s Q1 performance resulted in a slew of price target hikes from Wall Street analysts, with those at Baird being the most bullish about the company’s prospects.

Baird raised its price target for Nvidia to $500 from $300, implying an upside potential of 124% from the stock’s closing price on Wednesday. The firm has an ‘Outperform’ rating on NVDA.

With Nvidia’s market capitalization currently at $5.41 trillion, Baird’s new price target implies that the figure could soar past $10 trillion.

Jefferies remains cautious about whether investors will return to Nvidia shares amid concerns over merchant XPUs and broader compute diversification. Still, the firm says the stock looks "remarkably cheap," with upside earnings potential continuing to expand.

Gerber Kawasaki Wealth & Investment Management CEO Ross Gerber echoed similar sentiments in a post on X, stating that “Nvidia has an absurdly reasonable valuation.”

Analysts Brush Aside Decline In NVDA Stock Post Earnings

Analysts at BofA brushed aside the decline in Nvidia shares post earnings, urging investors to look past the short-term volatility and focus on the company's unique full-stack advantage in what it calls the fastest-growing and largest technology market ever.

BofA raised its price target for Nvidia to $350 from $320 while keeping a ‘Buy’ rating.

JPMorgan analyst Harlan Sur raised his price target on Nvidia to $280 from $265 and maintained an ‘Overweight’ rating, citing results and guidance that exceeded expectations.

The analyst said Nvidia reinforced its AI compute leadership and growing networking momentum, while improved visibility prompted higher earnings estimates.

NVDA Begins FY27 With Record Q1

Nvidia started off the fiscal year 2027 with a record Q1, with revenue soaring 85% year-on-year to $81.5 billion, from $44.06 billion a year ago. The company’s earnings per share (EPS) stood at $1.87, more than doubling from $0.78 during the year-ago period.

Wall Street expected Nvidia to report EPS of $1.77 on revenue of $79.12 billion, according to Fiscal.ai data.

The AI bellwether expects second-quarter (Q2) revenue to come in at $91 billion, plus or minus 2%, compared to an estimate of $90 billion.

How Did Retail Investors React To NVDA?

Retail sentiment on Stocktwits around Nvidia trended in the ‘extremely bullish’ territory with message volumes at ‘extremely high’ levels at the time of writing.

One user dismissed concerns of a bubble, adding that they believe that NVDA is not going to crash.

NVDA stock is up 19% year-to-date and 69% over the past 12 months. The S&P 500 ETF (SPY) is up 27% over the past 12 months, while the Invesco QQQ Trust ETF (QQQ) is up 38%.

The Vanguard Information Technology Index Fund ETF (VGT) is up 51% over the past 12 months, while the iShares Russell 1000 Growth ETF (IWF) is up 26%.

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