The Nvidia stock forecast is getting a reset from Goldman Sachs ahead of quarterly results on February 25, and the timing couldn’t be more critical right now. The bank has revised its Nvidia earnings expectations and Nvidia stock outlook for 2026, projecting a $2 billion revenue beat. The latest Goldman Sachs Nvidia price target sits at $250, which represents about 35% upside from where Nvidia stock today closed at $185.
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Nvidia Earnings Outlook And Goldman Sachs Price Target Reset
Goldman Sachs Predicts Strong Fourth Quarter Beat
The latest Nvidia stock forecast from Goldman Sachs predicts fourth-quarter revenue of $67.3 billion, marking a roughly $2 billion beat. The Nvidia stock forecast has been positioned 8% above consensus for first-quarter revenue also. At the time of writing, analysts stated:
“We expect Nvidia to deliver a ~$2bn revenue beat in 4Q, and we stand 8% above the Street for 1Q revenue. Our 4Q and 1Q EPS estimates are 5% and 9% above the Street.”
The projections from Goldman Sachs come as Nvidia shares have been pulled back 13% from their peak, and competition has intensified.
High Bar Set For Forward Guidance
The challenge for any Nvidia stock forecast right now isn’t beating estimates. Goldman Sachs notes that investors may have already priced strong results into Nvidia stock today, with analysts shifting focus to 2027.
“We believe upside to Nvidia’s CY26 estimates is largely priced into the stock at current levels, and stock price outperformance will hinge on revenue visibility into CY27.”
Multiple Catalysts Could Drive Shares Higher
Several factors could drive the Nvidia stock forecast and the broader Nvidia stock outlook for 2026 higher. Hyperscaler spending has climbed to $527 billion for 2026, up from $394 billion. Amazon announced $200 billion in spending, and Alphabet disclosed $185 billion.
Nvidia CEO Jensen Huang stated at CES:
“Some $10 trillion or so of the last decade of computing is now being modernized to this new way of doing computing. A hundred trillion dollars of industry, several percent of which is R&D budget, is shifting over to artificial intelligence.”
Non-hyperscaler demand from OpenAI and Anthropic represents a key area for an updated Nvidia stock forecast. China demand could also shift the Nvidia stock forecast and Nvidia stock outlook for 2026, as the U.S. approved H200 sales there.
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Goldman Sachs has modeled aggressive growth through 2028, supporting their bullish Nvidia stock forecast. For 2026, the bank expects $215.1 billion in revenue and $4.49 earnings per share. This Goldman Sachs Nvidia price target of $250 uses a 30x price-to-earnings ratio on 2027 earnings. Risks include AI spending slowdowns and competition, which could impact Nvidia earnings expectations going forward.
