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Goldman Sachs Boosts Nvidia’s Target Price to $800, Citing Strong AI Demand and Improved GPU Supply

Goldman Sachs analysts reaffirmed their Buy rating on Nvidia (NASDAQ:NVDA) and upped their 12-month target price from $625 to $800.

The revised target suggests a potential upside of nearly 21% from NVDA’s Friday closing price.

Goldman Sachs noted that their updated projections for fiscal years 2025/26 anticipate a 22% average increase in non-GAAP EPS (excluding SBC), driven by robust demand for AI servers and improved GPU supply.

Contrary to earlier predictions of a decline in Data Center revenue in the second half of 2024, analysts now foresee sustained growth extending into the first half of 2025. This shift is attributed to ongoing investments in Gen AI infrastructure by major cloud service providers, a widening customer base, and various new product cycles such as H200 and B100.