Nvidia Stock Price Surges as Analysts Lift Targets
Nvidia stock price hit record highs on May 13, 2026, as analysts raised targets and market cap topped $5.5 trillion; traders await May 20 earnings.
KEY TAKEAWAYS
- Shares closed at a record $227.16, pushing Nvidia market cap above $5.5 trillion.
- Bank of America and Wells Fargo raised price targets to $320 and $315, widening upside expectations.
- Earnings are scheduled for May 20 with consensus revenue $78.1 billion and EPS $1.74.
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Nvidia Corp.'s stock price surged to record highs on May 13, 2026, after Bank of America and Wells Fargo raised price targets on accelerating AI data-center demand, lifting the company's market value ahead of its May 20 earnings report.
Record Highs and Analyst Targets
Nvidia shares closed at a record $227.16 on May 13, pushing the market capitalization above $5.5 trillion. The stock is up 21.0% year-to-date. Bank of America raised its price target to $320 on May 13, citing a $1.7 trillion 2030 AI data-center total addressable market and the ramp of Nvidia’s Blackwell and Vera Rubin platforms. Wells Fargo raised its target to $315 on May 12, applying a 21x multiple to a calendar-year 2028 earnings per share forecast of $14.85 and modeling gigawatt-scale deployments.
The Street consensus price target stands at $269.17 with 57 Buy ratings. The recent revisions imply roughly 40.0% upside from the May 13 close for Bank of America and about 38.0% to 44.0% for Wells Fargo from mid-May levels.
Valuation measures show contrasting views on how much growth is priced in. Nvidia trades at a trailing price-to-earnings ratio near 45x, while next-twelve-month multiples on 2027 estimates fall below 20x, compared with a roughly 32x median NTM P/E over the past three years. Analysts say this shift highlights reliance on forward earnings to justify current prices. Fair-value estimates vary widely, from a GuruFocus figure of $323.69 and a Seeking Alpha discounted cash flow model at $301.89 to Morningstar’s $260 and a broader range of $173.50 to $334.78 from other models.
Earnings Outlook and Demand Drivers
Nvidia’s first-quarter fiscal 2027 earnings report is scheduled for May 20. Pre-earnings consensus calls for revenue of $78.1 billion and earnings per share of $1.74. Investors expect a beat-and-raise quarter, consistent with Nvidia’s recent pattern of outpacing consensus and guiding above expectations. A stronger-than-expected report would test the more bullish price targets and influence how investors weigh forward multiples.
Company guidance cited in market commentary projects calendar-year 2026 revenue above $300 billion and frames a long-term AI infrastructure opportunity of roughly $3.0 trillion to $4.0 trillion in annual spending by 2030. Analysts say this outlook underpins the industry-level growth assumptions embedded in many models. That scale of opportunity is central to the bullish case and to reconciling high trailing multiples with lower forward-year estimates.
Demand indicators support the higher valuations. Hyperscaler capital-expenditure plans have been tallied at about $725 billion. Suppliers such as SK hynix and TSMC report explosive growth, and Nvidia’s Blackwell and Vera Rubin platforms have a deep order book. Market participants describe the backdrop as compute demand outstripping supply. Analysts cite these signals as justification for continued revenue momentum into 2026 and 2027.
Nvidia’s recent scale is substantial. Fiscal 2026 full-year revenue was $215.9 billion, up 66.0% year-over-year, with net income of $120.1 billion. In the fourth quarter, Data Center revenue reached $62.3 billion, a 75.0% annual gain, while Networking revenue climbed 263.0%. Wells Fargo projects even larger Data Center revenue, estimating roughly $354.5 billion in fiscal 2027, $504.5 billion in 2028, and about $628.0 billion in 2029. If achieved, this trajectory would justify the most aggressive price targets.
