Nvidia should report strong second-quarter results later this month that will drive shares higher, according to Piper Sandler. The firm raised its price target to $225 per share from $180, signaling about 23% upside ahead. It also kept its overweight rating on Nvidia. “We are expecting another positive quarter from NVDA and see upside to numbers for both the July and October quarters,” analyst Harsh Kumar said. “While we are modeling largely in-line for the July quarter and slightly below Street for October, we are calling for upside given the recent positive commentary from U.S. hyperscalers as well as the inclusion of revenues from China.” NVDA YTD mountain Nvidia stock. Nvidia should note strong demand for its chips, the analyst said, which is a dynamic he expects to continue. “We continue to think that NVDA is in a demand greater than supply situation and will likely continue to be through the end of the year,” he said. “Even without China, the U.S. HPC demand is outstripping NVDA’s ability to supply its latest architecture. We note, this situation is somewhat exasperated by the model changes at NVDA to the rack and delays in the introduction of the GB200.” Shares have added more than 26% in 2025. The chipmaker will report quarterly results on Aug. 27. Analysts polled by FactSet forecast $1 per share on revenue of $45.76 billion. Most analysts are bullish Nvidia. Of the 65 who cover the stock, 58 rate it a buy or strong buy, according to LSEG.