Nvidia's earnings report triggers a wave of target price hikes, with one institution calling for a $10 trillion valuation target

According to Odaily, Nvidia's latest earnings report and guidance exceeded expectations, boosting bullish sentiment on Wall Street, with more than a dozen major banks including Morgan Stanley, Citigroup, and Mizuho raising their target prices in quick succession. At least 13 institutions have raised their price targets for Nvidia, with Raymond James Financial raising its target from $352 to $515, the highest so far; Melius Research raising from $400 to $420, Bernstein raising from $315 to $400, and Rosenblatt Securities raising from $325 to $390. Based on Nvidia's 24.1 billion shares outstanding, the $515 target price corresponds to a market value of approximately $12.4 trillion.

Nvidia's latest earnings report comprehensively beat expectations: Q2 fiscal year 2027 revenue reached $96.2 billion, up 106% year-over-year; adjusted earnings per share of $2.22, up 120% year-over-year; data center revenue totaled $89 billion. The company projects a mid-point revenue of $108 billion for the third fiscal quarter and expects revenue growth of approximately 70% in fiscal year 2028, significantly higher than the market's previous expectation of around 45%. (CLS)