Needham NVIDIA · NVDA

Needham Keeps Buy on NVIDIA, $240 Price Target

Analyst: Rajvindra Gill 1 min read Reproduced verbatim
Rating
Buy
Unchanged
Target
$240
Upside
+28%
NVDA at $188 today
Needham and NVIDIA logos

What the analyst said

Needham analyst Rajvindra Gill reiterated a Buy rating and $240 price target on NVIDIA (NASDAQ: NVDA).

“NVIDIA delivered a F3Q26 beat, while F4Q26 revenue was also above expectations with management reaffirming its $500BN Blackwell + Rubin revenue target through the end of CY26.

Our key takeaways include: 1) The $500BN target has room for upside based on additional capacity coming online and existing partnerships continuing to grow; 2) GM is expected remain in the mid-70s% in FY27 despite rising input costs including wafer costs, memory, and packaging.

F4Q26 GM was guided to 75%; and, 3) Addressing AI bubble concerns, CEO Huang mentioned multiple generations of NVDA GPUs are currently being fully utilized by CSPs, aggregate hyperscaler CapEx has grown to $600BN annually, +$200BN from the start of the year, and scaling laws remain intact.Our PT remains $240, now based on a ~25x P/E multiple of our new FY28/CY27 NG EPS estimate of $9.75.”

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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 $188. The 27 analysts who set a target in the last 3 months range from $270 to $515, with a median of $315. This $240 target is 24% below the median, the lowest on the Street.

Since the note NVDA has moved +1% (from $187). 12-month window: day 351 of 365, closes on November 20, 2026.

Track record

This callOpen: NVDA has not reached $240 yet. This 12-month target is scored on November 20, 2026.

Firm track recordNeedham: 100% of its 6 targets at least a year old were reached within 12 months; on NVIDIA, 3 of 3. Accuracy ranking →

Earnings reactionOne of 27 notes after NVIDIA’s Nov 19 results: 17 raised · 0 cut · 8 kept. See every call →

Needham on NVIDIA

Needham price targets on NVIDIA

6 calls from August 28, 2025 to September 4, 2026. The target went from $200 to $300 (+50%). The rating stayed Buy.

Needham targetNVDA share price
  1. September 4, 2026Kept the $300 targetBuy$300
  2. August 27, 2026Target raised from $270 (+11%)Buy$300
  3. May 21, 2026Target raised from $240 (+13%)Buy$270
  4. February 26, 2026Kept the $240 targetBuy$240
  5. November 20, 2025 This noteTarget raised from $200 (+20%)Buy$240
  6. August 28, 2025Earliest call shownBuy$200
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Other analysts on NVIDIA

Goldman SachsBuy Kept rating and price target Oct 21 $300maintained 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
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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.