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Investing.com - DA Davidson has reiterated its Buy rating and $250.00 price target on Nvidia (NASDAQ:NVDA) ahead of the company’s third-quarter fiscal 2026 earnings report scheduled for Wednesday, November 19. With a current market capitalization of $4.62 trillion and a P/E ratio of 54.2, Nvidia trades slightly above its InvestingPro Fair Value, though analyst targets range as high as $350.
The research firm expects Nvidia to deliver strong quarterly results that will demonstrate continued robust demand for AI computing capabilities, which it believes will persist "far into the foreseeable future." This optimism is supported by Nvidia’s impressive 71.55% revenue growth over the last twelve months and the fact that 13 analysts have recently revised their earnings expectations upward, according to InvestingPro data.
DA Davidson noted that Nvidia maintains a strong competitive position in the AI computing market despite increasing competition from other players in the space.
The firm acknowledged that competitors may gain some market share over time but emphasized that the overall AI computing market is growing rapidly enough that this should not significantly impact Nvidia’s business prospects.
DA Davidson’s maintained price target of $250.00 reflects its confidence in Nvidia’s ability to capitalize on the expanding AI computing market, supporting its continued Buy recommendation for the stock.
In other recent news, GMI Cloud announced plans to build a $500 million artificial intelligence data center in Taiwan, with support from Nvidia. The facility, expected to be operational by March 2026, will utilize Nvidia’s Blackwell GB300 chips and house approximately 7,000 GPUs. This development underscores Nvidia’s continued influence in the AI sector. Ahead of Nvidia’s upcoming earnings report, Evercore ISI has reiterated an Outperform rating, expecting the company to deliver better-than-expected results for its October quarter. BofA Securities also maintained a Buy rating, emphasizing Nvidia’s leadership in the AI chip market. Wells Fargo raised its price target for Nvidia to $265, highlighting the company’s growth in the data center business. KeyBanc has reiterated an Overweight rating and expects strong results for the October quarter, along with higher guidance for the January quarter. These developments reflect Nvidia’s strategic advancements and positive outlook in the AI and data center markets.
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