Key Takeaways
- Shares of NVDA slipped approximately 2.6% during premarket hours Thursday despite encouraging analyst commentary post-GTC
- Raymond James elevated its price objective to $323 from $291, keeping its Strong Buy recommendation
- Truist boosted its price objective to $287 from $283, maintaining its Buy stance
- The chipmaker disclosed $1 trillion in aggregate GPU order visibility extending through 2027
- Analyst consensus remains Strong Buy: 40 Buy recommendations, 1 Hold; mean price objective $274.16
Shares of Nvidia experienced a decline of approximately 2.6% during premarket hours on Thursday, March 19, despite a pair of Wall Street analysts elevating their price objectives in the wake of the chipmaker’s annual GTC conference.
The conference, which Truist’s William Stein described as “the Super Bowl of AI,” showcased product launches, strategic partnership reveals, and a substantial revenue visibility disclosure from company leadership.
Raymond James analyst Simon Leopold increased his price objective to $323 from $291, preserving his Strong Buy recommendation. He highlighted Nvidia’s revised projection for $1 trillion in aggregate GPU sales extending through 2027, suggesting this estimate may prove conservative.
The market won’t be able to keep $NVDA below $200 much longer.
Jensen is clearly building for the inference era with Rubin handling attention-heavy workloads and Groq powering low-latency token generation.
The AI engine just keeps humming. pic.twitter.com/0ri6ro9n76
— Shay Boloor (@StockSavvyShay) March 17, 2026
Leopold noted that incorporating contributions from Vera Rubin Ultra and the Groq LPX platform, aggregate AI data center revenue through 2027 could approach $1.3 trillion.
Truist’s Stein similarly increased his price objective, raising it to $287 from $283, while maintaining his Buy recommendation. His analysis emphasized three primary themes emerging from GTC’s second day.
Initially, company leadership designated 2025 as “the year of inference,” signaling a marketplace transition from training-centric infrastructure to large-scale production inference. Stein identified three demand catalysts: generative AI driving token consumption higher, OpenClaw establishing what Nvidia characterizes as a “ChatGPT moment” for Agentic AI, and accelerated expansion in physical AI applications including autonomous vehicles and humanoid robotics.
Additionally, Nvidia is prioritizing “tokenomics” — measuring tokens per second per watt — as the critical performance benchmark for inference workloads. The company is tackling this challenge through its rack-scale Vera Rubin platform, enabling clients to customize configurations across five distinct resource rack categories.
$1 Trillion Revenue Visibility Revealed
The standout announcement from GTC was Nvidia’s disclosed revenue visibility totaling $1 trillion derived from Blackwell and Vera Rubin orders extending through 2027. This represents an increase from the $500 billion through 2026 figure management referenced previously.
Wall Street’s prevailing data center revenue projection stands at approximately $950 billion spanning 2025–2027. Stein anticipates “at least modest upside” for 2026 and 2027 based on management’s guidance.
He adjusted his calendar year 2027 data center revenue projection upward to $468 billion from $439 billion. His earnings per share estimate for that period rose to $11.48 from $10.12.
Despite the optimistic analyst commentary, shares failed to gain momentum. NVDA traded down approximately 2.6% ahead of Thursday’s market opening.
NVDA Analyst Price Objectives and Consensus
Wall Street’s consensus rating for NVDA continues to be Strong Buy, featuring 40 Buy recommendations against just one Hold. The mean price objective registers at $274.16, suggesting approximately 52% potential upside from present trading levels.
NVDA has climbed 56% during the trailing 12 months but remains over 3% lower year-to-date entering Thursday’s trading session.
The mean analyst price objective of $274.16 sits considerably beneath both the Raymond James and Truist targets elevated this week.
