The stock of Nvidia has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 34 Buy, three Hold, and one Sell recommendations issued in the past three months. The average NVDA price target of $186.24 implies 1.94% upside from current levels.

While its valuation is undoubtedly high, there's one thing that has the potential to send its shares up even more, and that's a strong earnings report. With Nvidia's earnings set to come out later this month, on Aug. 27, is that likely to be a catalyst that sends the chipmaker's scorching-hot stock to new heights?

Nvidia shares closed up 1.09% at $182.74. The stock closed at $180.77 yesterday, its 18th record close in 2025. It’s up 36% year to date and nearly 75% over the last 52 weeks, with a market capitalization of $4.46 trillion.