Wedbush Raises Nvidia Price Target to $345 After Record Quarter

Nvidia just posted numbers that sound made up, and Wall Street responded by raising the bar even higher. Wedbush analyst Matt Bryson bumped his price target on the chipmaker to $345 from $330 this week, reiterating an Outperform rating after Nvidia's fiscal second-quarter report blew past expectations.

The timing matters. Nvidia reported results on Wednesday, August 26, and the stock jumped as investors digested a quarter that topped even the lofty estimates baked into the price. Bryson's note came two days later, on the heels of that report, and he wasn't alone — several other desks nudged targets higher too.

The headline figures are hard to ignore. Nvidia posted revenue of $96.2 billion for the quarter, up 106% from a year ago, with Data Center revenue alone hitting $89 billion — a 117% jump, according to the company's own earnings release. Adjusted earnings came in at $2.22 a share, ahead of the $2.10 Wall Street had modeled.

What really got analysts' attention wasn't just the beat — it was the guide. Nvidia issued its first full-year outlook, something it hasn't done before, and third-quarter revenue guidance of $108 billion (plus or minus 2%) landed well above where the Street had been sitting, as Proactive Investors reported this week.

Data Center revenue of $89.0 billion, up 117% from a year ago.

That's the number driving nearly every bull case on this stock right now. Data center demand — the AI buildout — isn't slowing down, and Nvidia's commanding position in that market is what's pushing analysts to keep stretching their targets upward.

Bryson's $345 target implies roughly 65% upside from where the stock traded before his note, according to Benzinga's coverage of the rating action. He's not the most bullish voice on the Street either — Rosenblatt's Kevin Cassidy raised his target even further, to $390 from $325, in the same window.

For retail investors, the tip here isn't "buy Nvidia because the number went up." It's paying attention to what's actually driving the target increases: real revenue, real margin expansion, and now a formal full-year guide that management is willing to put its name on. That's a different animal than a stock rallying purely on hype.

If you already own NVDA, this is a moment to check whether your position size still makes sense given how far the stock has run. If you're looking to start a position, consider scaling in rather than going all-in at once — a name this large moves on macro headlines as much as company-specific news, and a hawkish Fed turn or a stumble from a hyperscaler customer could still knock it around in the short term.

The risk worth flagging: Nvidia now carries enormous expectations baked into a rich valuation. Even Wedbush's own commentary ahead of earnings noted that supply constraints — not demand — could be the actual ceiling on how much growth Nvidia can capture in coming quarters. A single soft data-center order or an export-rule change out of Washington could hit the stock harder than a similarly sized company with less riding on one segment.

What to watch next: keep an eye on commentary from Nvidia's largest customers — Microsoft, Meta, Amazon, and Google — as they report their own capital-spending plans this fall. Their spending directly funds Nvidia's Data Center line, and any pullback in AI infrastructure budgets would ripple straight back to this stock.

Bottom line: Wall Street just raised the bar on Nvidia again, and this time the company itself is confirming the story with its first-ever full-year guide — but that also means there's less room for anything to go wrong.