Piper Sandler Reiterates Overweight on NVIDIA, $225 PT

Piper Sandler analyst Harsh Kumar reiterated on August 27, 2025, a ‘Overweight’ rating and $225 price target on Nvidia.

“NVDA reported July results along with October quarter guidance which exceeded expectations into the print.

What makes the $54B October quarter revenue guidance impressive in our view is that there are no H20 revenues built-in, which we see as potential upside.

The company noted that it could generate potentially $2-$5B in China revenue this quarter.

In addition, NVDA continues to make progress with the GB300 system which went into full production mode late in the quarter.

Networking also delivered a nice surprise with sequential growth of 46%.

On gross margins, the company expects to achieve mid-70s by year-end.

We continue to view NVDA as the leader in full-scale providers with exceptional TCO and ROI for its customers.

Going forward, we are revising our numbers up and continue to see NVDA leading in the long-term AI infrastructure build-out.

We reiterate our OW rating.”

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