Nvidia ($NVDA) earnings in focus: Goldman Sachs flags the post-print pattern ahead of August 26
Nvidia ($NVDA, $214.72 as of August 21) reports second-quarter fiscal 2027 results on August 26, and Goldman Sachs analyst James Schneider expects a solid quarter with meaningful upside to guidance, supported by tight GPU supply and demand trends. What complicates the setup: the stock has declined on the session following each of its last four earnings prints, despite strong results each time.
Key takeaways
- Nvidia reports its second-quarter fiscal 2027 results on August 26, with the stock at $214.72 as of August 21.
- Goldman Sachs analyst James Schneider expects a solid quarter with meaningful upside to guidance, but notes the stock has fallen the session after each of its last four earnings prints despite strong results.
- Of 54 analysts covering Nvidia, 52 rate it a buy and two hold with zero sell ratings, and the average price target of $308.01 implies 43.45% upside from the August 21 close.
- Goldman's price target is $285, based on a 30x multiple, implying 32.73% upside, with Schneider's Q2 and Q3 EPS estimates 6% and 12% above consensus respectively.
- Schneider suggested Nvidia would need to deliver something material beyond a conventional beat-and-raise to drive a post-earnings rally, since a 12%-plus run-up into earnings may have already priced in a standard beat-and-raise.
Nvidia ($NVDA, $214.72 as of August 21) reports second-quarter fiscal 2027 results on August 26, and Goldman Sachs analyst James Schneider expects a solid quarter with meaningful upside to guidance, supported by tight GPU supply and demand trends. What complicates the setup: the stock has declined on the session following each of its last four earnings prints, despite strong results each time.
The numbers and the consensus
Analyst sentiment sits at a rare extreme. Of 54 analysts covering the stock, 52 rate it a buy and two hold, with zero sell ratings, according to MarketBeat. The group's average price target is $308.01, which implies 43.45% upside from the August 21 close.
Goldman's target is $285, derived from a 30x multiple, implying 32.73% upside from the same level. Schneider's team pegs its Q2 and Q3 earnings-per-share estimates at 6% and 12% above Wall Street consensus, respectively. The conditional Schneider attached matters: the stock climbed more than 12% in the two weeks leading into earnings, raising the bar. A standard beat-and-raise, Schneider suggested, may already be reflected in the price.
The setup and what it means
The structural question Goldman Sachs wants addressed is capital allocation tied to Nvidia's customer financing activity. On August 10, Nvidia joined Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to form AI Compute Infrastructure Financing Platforms, a structure aimed at mobilizing more than $500 billion of third-party capital. Then on August 17, Reuters reported Nvidia agreed to guarantee up to $105 billion to support OpenAI's lease of a data center in Ohio being developed by SoftBank-owned SB Energy.
Schneider's team outlined three conditions that could help the stock re-rate from here: improving profitability metrics at hyperscalers to support sustained spending, evidence of measured capital outlays tied to the customer financing platforms, and a reiteration of commitment to buybacks and dividends. Hyperscalers have continued raising capital expenditure plans, but Goldman noted it is not certain they will do so midyear, adding pressure to the outlook for the next two quarters.
For a post-earnings rally, Schneider's note suggested Nvidia would need to deliver something material beyond a conventional beat-and-raise. Morgan Stanley analysts hold a broadly similar view on the setup.
What to watch on the call: details on the customer financing platform and its capital allocation impact, the Vera Rubin AI platform rollout timeline for the second half of 2026, gross margin trends and input costs, CPU demand tied to Agentic AI, and competitive positioning. The August 26 print is the next definitive data point.
Related reading
Filed by the newsroom of MarketPR on August 24, 2026. Source: finance.yahoo.com. Indicative figures are not investment advice.