TLDR
- Nvidia reports Q1 FY27 earnings on Wednesday, May 20.
- Wall Street expects EPS of $1.75, up over 100% year-over-year, on revenue of ~$78.85 billion.
- Wedbush analyst Matt Bryson predicts a beat, forecasting EPS above $1.80 and revenue at least $2 billion above estimates.
- Morgan Stanley elevated NVDA to its “top pick,” while KeyBanc and D.A. Davidson both raised price targets to $300.
- NVDA traded at $222.23 on Monday, with multiple analysts seeing 26–35% upside from current levels.
Nvidia reports fiscal Q1 2027 earnings on Wednesday, May 20, and Wall Street is watching closely. The stock slipped 1.3% to $222.23 on Monday, but that hasn’t cooled analyst enthusiasm.
Consensus estimates call for earnings of $1.75 per share — more than double the year-ago figure — on revenue of roughly $78.85 billion, which would be growth of over 75% year-over-year.
Wedbush analyst Matt Bryson thinks those numbers will be too low. He reiterated a Buy rating and $300 price target on Monday, which implies about 35% upside from current levels.
Bryson is forecasting Q1 EPS above $1.80, compared to his prior estimate of $1.74. He also expects revenue to come in at least $2 billion above his $78.01 billion estimate.
Looking ahead, Bryson projects Q2 earnings of $1.84 per share on revenue of $82.12 billion. He sees AI infrastructure spending staying strong through 2027.
He did flag some risks — uncertainty around Middle East projects and potential limitations on business in China. But he views any resolution there as a likely boost to AI spending, not a drag.
Supply Chain Holding Up
Bryson also addressed the supply chain picture. He noted widespread bottlenecks across the AI hardware industry, including shortages of advanced chips, memory, optical components, and hard drives.
Despite that, he says Nvidia has managed to sidestep the worst of those issues — a point echoed by D.A. Davidson analyst Gil Luria, who raised his price target to $300 from $250.
“Nvidia understood the demand patterns first,” Luria wrote, pointing to how the company adapted early to memory shortages and is now even exploring selling CPUs as standalone products.
KeyBanc analyst John Vinh also lifted his target to $300 from $275, citing strong demand for Blackwell Ultra GPUs and initial shipments of Rubin GPUs. He kept an Overweight rating on the stock.
Eyes on Inference and Computex
Beyond the headline numbers, investors want to hear Nvidia’s plan for AI inference — running models rather than training them — where competition is picking up from players like newly listed Cerebras Systems.
Morgan Stanley’s Joe Moore, who elevated Nvidia to his firm’s “top pick” in March, expects a “typical beat and raise pattern” and raised his price target to $285 from $260. He rates the stock Overweight.
Moore acknowledged it has taken time for investor enthusiasm to return to the Nvidia story, as optical networking companies and other peripheral AI plays have grabbed attention recently.
KeyBanc’s Vinh expects Nvidia to announce standalone CPU server racks at the Computex conference in Taiwan in early June — a move that would mark a notable expansion beyond its GPU stronghold.
Paul Meeks of Freedom Capital Markets pointed out that Nvidia trades at roughly 20 times expected fiscal 2028 earnings, with adjusted earnings projected to grow 73% in FY2027 and 36% in FY2028.
Wall Street’s overall consensus on NVDA is Strong Buy — 40 Buy ratings, one Hold, and one Sell over the past three months. The average 12-month price target sits at $281.59, implying 26.6% upside from current levels.
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