Piper Sandler Affirms Overweight on NVIDIA, $225 Price Target
- Rating
- Buy
- Unchanged
- Target
- $225
- Outcome
- Reached
- on May 13, 2026
What the analyst said
Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and $225 price target on NVIDIA (NASDAQ: NVDA).
“Exceptional Beat & Guide, Blackwell and Rubin Show Strong Visibility; NVDA reported an exceptional October quarter along with an even stronger guide.
The company beat by roughly $2B on the top line and delivered guidance nearly $3B above consensus. Our understanding is that the buyside bogie was roughly a $2B beat for both the quarter and guide.
Impressively, we note that there was only $50M of China business in the quarter with no expected DC China revenue in Q4.
In addition, NVDA noted they have half a trillion of Blackwell and Rubin visibility through CY26, not including key recent deals with KSA and Anthropic.
GB300 is now shipping and was roughly 2/3 of total Blackwell revenue in the quarter.
Most importantly, management made clear we’re not in an AI bubble, but rather an existential need for HPC spend to generate traffic and revenue.
Lastly, management characterized demand as increasing and accelerating. Reiterate OW rating and move our estimates materially higher.”
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 $229. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $225 target is 29% below the median, the lowest on the Street.
Since the note NVDA has moved +23% (from $187). 12-month window: day 323 of 365, closes on November 20, 2026.
Track record
This call✓ Target reached on May 13, 2026, 7 months after the note. Same target as this firm’s October 14, 2025 note, so it is scored there.
Firm track recordPiper Sandler: 84% of its 19 targets at least a year old were reached within 12 months (#9 of 20 firms); on NVIDIA, 4 of 4. Accuracy ranking →
Piper Sandler on NVIDIA
Piper Sandler price targets on NVIDIA
8 calls from August 13, 2025 to September 10, 2026. The target went from $225 to $300 (+33%). The rating stayed Buy.
- September 10, 2026Target raised from $225 (+33%)Buy$300
- February 26, 2026Kept the $225 targetBuy$225
- January 6, 2026Kept the $225 targetBuy$225
- November 20, 2025 This noteKept the $225 targetBuy$225
- October 14, 2025Kept the $225 targetBuy$225
- September 19, 2025Kept the $225 targetBuy$225
- August 27, 2025Kept the $225 targetBuy$225
- August 13, 2025Earliest call shownBuy$225
