Baird raises Nvidia stock price target on data center demand outlook

Baird raised its price target on Nvidia Corp. (NASDAQ:NVDA) to $300 from $275 on February 26, 2026, citing strong data center demand outlook and predictable revenue path for the remainder of the year. The firm maintained an Outperform rating on the shares, noting that Nvidia has delivered a 49% return over the past year and is currently trading at $195.56 with strong analyst support—consensus ratings point to a strong buy. Baird expects the company's VR product to further extend Nvidia's performance lead over the competition, with models showing 80% year-over-year growth for data center revenue with potential upside. The firm mentioned that demand is currently limited by supply as all products are sold out. This positive outlook aligns with Nvidia's recent performance, which posted revenue of $187 billion with 65% growth in the last twelve months. According to the article, 11 analysts have revised their earnings upwards for the upcoming period, with VR products just starting sampling and on track for the second half of the year. While Baird noted that Nvidia's GPU and ASIC peers will grow faster this year, the company maintains strong positioning, with the firm seeing nearly $20 of earnings per share potential by 2030 assuming a 15% revenue compound annual growth rate for 2027 through 2030. The article also mentions other recent developments, including Nvidia's strong financial results for the fourth quarter of fiscal year 2026, which exceeded Wall Street's expectations with earnings per share of $1.62 (surpassing the forecasted $1.52) and revenue of $68.1 billion (higher than the anticipated $65.56 billion). The company also provided optimistic guidance for the first quarter of fiscal 2027, with revenue expected to increase $9.9 billion sequentially. Other firms like Cantor Fitzgerald and Raymond James have also expressed positive views, with Cantor Fitzgerald reiterating an Overweight rating and maintaining a $300 price target, while Raymond James raised its price target to $291 from $272, citing robust demand and impressive operational execution.