Baird NVIDIA · NVDA

Baird Maintains Outperform on NVIDIA, $195 Price Target

February 20, 2025 Analyst: Tristan Gerra 1 min read Reproduced verbatim
Rating
Buy
Unchanged
Target
$195
Outcome
Reached
on October 28, 2025
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What the analyst said

Baird analyst Tristan Gerra reiterated an Outperform rating and $195 price target on NVIDIA (NASDAQ: NVDA)

“Our supply chain meetings dismiss lingering concerns around GB200 mix for the year. GB200, following a late and slow start, is now starting to gain momentum.

Previously-discussed delays for GB200 have not been related to demand but to data enter availability (space, electricity) while architecture novelties have taken time to implement and optimize.

Nvidia is pushing NVL72 implementations to maximize efficiency. Investors should not assume that these initial delays will lead customers to skip to the next-generation products.

We expect GB200 to represent the majority of Nvidia’s GB mix in 2H25 and into 2026. GB300 crossover is expected not until 2H26.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

NVDA trades at $214. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $195 target is 38% below the median, the lowest on the Street.

Since the note NVDA has moved +54% (from $139). The 12-month window closed on February 20, 2026.

Track record

This call✓ Target reached on October 28, 2025, 8 months after the note.

Firm track recordBaird: 94% of its 17 targets at least a year old were reached within 12 months (#5 of 28 firms); on NVIDIA, 3 of 3. Accuracy ranking →

Baird on NVIDIA

Baird price targets on NVIDIA

6 calls from August 25, 2025 to September 1, 2026. The target went from $225 to $500 (+122%). The rating stayed Buy.

Baird targetNVDA share price
  1. September 1, 2026Kept the $500 targetBuy$500
  2. May 21, 2026Target raised from $300 (+67%)Buy$500
  3. February 26, 2026Target raised from $275 (+9%)Buy$300
  4. December 25, 2025Kept the $275 targetBuy$275
  5. November 20, 2025Target raised from $225 (+22%)Buy$275
  6. August 25, 2025Earliest call shownBuy$225
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Other analysts on NVIDIA

UBSBuy Kept rating and price target · Oct 9 $300maintained Yorkville IvesBuy Initiated coverage · Oct 7 $300 CantorBuy Kept rating and price target · Oct 5 $350maintained CantorBuy Kept rating and price target · Oct 1 $350maintained CitiBuy Kept rating and price target · Sep 28 $315maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.