Report published August 26, 2026
Goldman Sachs Equity Research: Nvidia Corp. (NVDA) 2027 Outlook and Price Target Update
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 26, 2026
- Analysis as of
- August 26, 2026
Authors / editors: James Schneider, Anmol Makkar, Luya You, Khalil Fenina
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs reiterates its Buy rating on Nvidia (NVDA) and raises its 12-month price target to $300 from $285 following stronger-than-expected 2Q results and CY27 revenue growth guidance of 70%. Management's gross margin guidance of 72%-73% for CY27 and increased transparency around customer financial commitments provide a clear path for outperformance.
Key Takeaways
- 1.Nvidia delivered strong 2Q results ($96.2B revenue, $2.22 EPS) beating consensus and provided FY28 (CY27) growth guidance of 70%, surpassing expectations.
- 2.Medium-term gross margin guidance resetting to 72%-73% for CY27 addresses investor input cost concerns and serves as a potential clearing event.
- 3.Goldman Sachs reiterates a Buy rating on NVDA and raises its 12-month price target to $300 (from $285), based on 30x normalized EPS of $10.00.
Table of Contents
- Key stock takeaways
- Quarterly results were above the Street
- Increased datacenter revenue forecast, plus details of Rubin ramp
- Financial commitments, customer financing platform, and capital returns
- Gross margin trends and input costs
- CPU demand driven by Agentic AI
- 3Q revenue guidance is above the Street, with gross margins slightly below
- Read-through to our coverage
- Estimate changes
- Price target and risks
- Disclosure Appendix
Report data
Exhibit 3: NVDA – Old vs. New Estimates (Calendar Year) — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 2Q Total Revenue | 96.221 USD Billion | Above GS estimate of $93.050B and consensus Street estimate of $92.367B |
| 2Q Non-GAAP EPS | 2.22 USD | Above GS estimate of $2.12 and Street estimate of $2.09 |
| 3Q Revenue Guidance Midpoint | 108.0 USD Billion | Range of $105.84B to $110.16B, above Street estimate of $105.39B |
| CY27E (FY28) Revenue Forecast | 718.299 USD Billion | Raised from previous estimate of $635.120B (+13.1% revision) |
| 12-Month Price Target | 300.00 USD | Based on 30x multiple applied to normalized EPS estimate of $10.00 |
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Authors / Editors
Reported Data Context
- 2Q Total Revenue: 96.221 USD Billion (2Q26) · Source: Company data, Goldman Sachs Global Investment Research, Visible Alpha Consensus Data
- 2Q Non-GAAP EPS: 2.22 USD (2Q26) · Source: Company data, Goldman Sachs Global Investment Research, Visible Alpha Consensus Data
- 3Q Revenue Guidance Midpoint: 108.0 USD Billion (3Q26E) · Source: Company data, Goldman Sachs Global Investment Research
- CY27E (FY28) Revenue Forecast: 718.299 USD Billion (2027E) · Source: Company data, Goldman Sachs Global Investment Research
- 12-Month Price Target: 300.00 USD (12-month forward) · Source: Goldman Sachs Global Investment Research
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