Raymond James raised its NVIDIA (NASDAQ: NVDA) price target to $515 from $352 and maintained its Strong Buy rating, according to TipRanks’ August 27, 2026 report. Analyst Simon Leopold based the target on a 22-times multiple of calendar 2028 earnings. A price target is an analyst’s estimate under stated assumptions—not a promised future share price.
What Raymond James changed
The move lifted the firm’s target by $163, from $352 to $515. Raymond James kept its Strong Buy rating, so the reported change was to its valuation estimate rather than to its stated rating. TipRanks attributes the call to Simon Leopold and dates its coverage August 27, 2026. Yahoo Finance’s analyst listing showed Raymond James at $515 with a Strong Buy rating on August 28, 2026; the one-day difference reflects the dates shown by those sources.
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How the $515 target was valued
TipRanks reports that Leopold’s target used a 22-times multiple on NVIDIA’s calendar 2028 earnings. That is a forward-looking valuation framework: the share-price estimate depends on earnings forecasts and on the multiple applied to them. Both can change, and the original Raymond James research note was not available to confirm its full forecast inputs or risk disclosures.
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What the report said about NVIDIA’s business
TipRanks connected the call to AI demand and NVIDIA’s reported results and outlook. Its article cited fiscal second-quarter revenue of $96.2 billion, up 106% year over year, and also described supply constraints and hotter-than-expected memory pricing. These figures and characterizations are reported by TipRanks; they should not be treated here as independently verified company disclosures.
How it compares with other analyst targets
Raymond James’s $515 figure was one firm’s target, not a consensus price. Yahoo Finance’s analyst listing displayed targets from multiple firms at different levels. Those estimates are time-sensitive and may rely on different earnings forecasts, valuation methods, and time horizons, so a higher or lower target does not by itself show which analyst is more likely to be right.
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TipRanks also reported a then-current consensus snapshot with a $323.37 average target and 42.15% implied upside. That snapshot is specific to the time of its article and was not independently recalculated; it is not a current or enduring consensus figure.
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Sources and what remains unconfirmed
- TipRanks, Radhika Saraogi, August 27, 2026, reports the target change, rating, analyst, valuation multiple, business context, and consensus snapshot.
- Yahoo Finance’s NVIDIA analyst listing showed Raymond James’s $515 Strong Buy entry dated August 28, 2026, alongside other firms’ targets.
The inspected reporting did not include a verified direct quotation from Leopold or the Raymond James note. The complete forecasts and risk disclosures behind the target, as well as primary-source confirmation of the cited company figures, are not established by these sources.
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