Only one major Nvidia analyst is saying not to buy after those big results. Here’s why

Deutsche Bank is the only one of Wall Street's eight bulge-bracket firms to keep a Hold on Nvidia after the chipmaker's blockbuster quarter—Nvidia beat estimates, reported 66% year-over-year data-center sales growth and issued strong revenue guidance—while the other seven banks maintain buy-equivalent ratings. Analyst Ross Seymore's $215 price target, the lowest among peers, implies roughly 15% upside and a ~23x CY27 P/E that already prices in about 85% revenue growth over two years; Barclays and Bank of America sit at $275 targets (~47% upside). Seymore remains bullish on Nvidia's AI compute, networking and systems leadership but cites rising opex, softer China revenue and a weaker gaming quarter as reasons the stock appears fairly valued, even as shares are up 39% year-to-date.

Analysis

Deutsche Bank is the sole bulge-bracket hold among eight major banks after Nvidia’s quarter, even as the company beat estimates, posted a 66% year-over-year increase in data-center sales and issued revenue guidance that analysts broadly praised. Seven other big banks maintain buy-equivalent ratings, reflecting broad conviction in Nvidia’s AI-driven demand trajectory.

/Analyst Ross Seymore’s $215 price target is the cohort low and implies roughly 15% upside; he frames that target as a ~23x P/E on CY27 estimates that already embed about 85% revenue growth over the next two years. By contrast Barclays and Bank of America carry $275 targets (~47% upside), and shares have risen 39% year-to-date, suggesting divergence between conviction and near-term valuation.

/Seymore remains constructive on Nvidia’s leadership in AI compute, networking, software and systems but flags rising operating expenses, persistently lagging China revenue and a softer-than-expected gaming quarter as valuation-risk contributors. He expects a positive market reaction to the print and guide but concludes the shares are fairly valued today, which raises the risk of limited near-term upside despite strong fundamentals.

Key Decisions for Investors

• Consider trimming or taking profits to align position size with Deutsche Bank’s view of limited near-term upside (DB $215 PT ≈ 15%), while retaining a core stake to capture long-term AI/data-center leadership
• Watch operating expense trajectory, China revenue trends and gaming-segment recovery closely and be prepared to add on confirmed stabilization or materially improved guidance toward higher peer targets such as $275
• If holding a large position, implement risk management (e.g., stop-losses or hedges) given the stock’s 39% YTD run and Deutsche Bank’s view that current multiples already price ~85% revenue growth