Key Highlights
- Bernstein maintained its Buy rating on NVDA with a $300 price target, highlighting the Vera Rubin platform as a major advancement
- The Vera Rubin platform launches in H2 2026, offering 5x inference performance improvement and 3.5x training performance enhancement versus existing models
- NVDA shares climbed 0.5% on Friday, opening at $199.88 with the company’s market capitalization reaching $4.86 trillion
- Fourth quarter performance exceeded projections — earnings per share reached $1.62 compared to $1.54 forecast; revenue hit $68.13B versus $65.56B expected, marking a 73.2% year-over-year increase
- Analyst consensus shows Strong Buy rating — 4 Strong Buy ratings, 48 Buy ratings, 2 Hold ratings — with average price target of $275.25
Bernstein analyst David Dai maintained his Buy recommendation on Nvidia (NVDA) on Friday, establishing a $300 price objective while highlighting the company’s forthcoming Vera Rubin chip platform as a significant advancement in AI hardware technology.
Shares rose 0.5% during early market hours after the analyst note was published.
Dai characterized Vera Rubin as “a monster,” projecting it will provide 5x greater inference performance and 3.5x enhanced training performance relative to existing chips. The impressive aspect of these metrics is they arrive with just 1.6x additional transistors — demonstrating that Nvidia’s engineering team continues extracting substantially more capability from each successive chip generation.
Shipments of Vera Rubin are scheduled to commence during the second half of 2026.
NVDA began Friday’s session at $199.88. The shares trade within a 52-week span of $95.04 to $212.19 and remain substantially above both the 50-day moving average of $183.04 and the 200-day moving average of $184.87. The stock recently formed a golden cross — a technical indicator where the 50-day crosses above the 200-day — which typically draws momentum-focused traders.
Financial Metrics and Quarterly Performance
Bernstein maintains that the current valuation remains compelling when measured against growth prospects.
The research firm highlighted a PEG ratio of 0.77, significantly lower than the sector benchmark. Trading at approximately 15x anticipated 2027 earnings — compared to a sector average near 20x — Dai characterized the shares as “appearing very attractive.”
Reaching that valuation depends on achieving a calendar year 2027 EPS above $12, which Bernstein now describes as “very plausible.” The firm’s implied revenue projection of approximately $500 billion for 2027 surpasses the Street consensus of roughly $438 billion.
Nvidia’s most recent quarterly earnings reinforced that optimism. The company delivered Q4 EPS of $1.62, exceeding the $1.54 consensus estimate by $0.08. Revenue totaled $68.13 billion compared to expectations of $65.56 billion — representing a 73.2% increase year-over-year. Net margin reached 55.6% while return on equity achieved 97.37%.
Order Pipeline and Shareholder Activity
Bernstein’s analysis was unambiguous regarding demand trends: “zero signs of slowing.”
Orders currently extend through 2027, supported by supply agreements with leading cloud service providers. The robust GB300 ramp preceding the Vera Rubin release positions Bernstein to forecast 2026 as “a very good year” for the semiconductor giant.
Institutional stakeholders control approximately 65.3% of NVDA shares. Multiple funds expanded their positions during Q4, with Brighton Jones LLC increasing holdings by 12.4% and Hudson Value Partners LLC raising its stake by 30.7%.
Regarding insider transactions, CFO Colette Kress divested 42,650 shares at an average price of $174.89 on March 20th, representing a 4.62% decrease in her position. Director Aarti S. Shah sold 19,000 shares at $176.71, reducing her stake by 34.54%. Combined insider sales during the previous 90 days totaled approximately $207 million.
Wall Street consensus across all covering analysts shows a Strong Buy rating — 4 Strong Buy recommendations, 48 Buy recommendations, 2 Hold recommendations — with an average price target of $275.25, suggesting approximately 38% upside potential from present levels.
