Nvidia Stock Outlook: Could Q3 2025 Earnings Trigger a Bullish Rally?

With Nvidia set to release its Q3 earnings on Wednesday, 19 November 2025, the company may be positioned for a strong bullish rally that could potentially push prices longer run towards new all-time highs.

Earnings Expectations and Valuation

Analysts are forecasting an EPS of $1.17 for Q3 (based on 13 analyst predictions), a notable increase from last year’s Q3 EPS of $0.78, representing a 50% year-on-year rise. Despite this solid growth, Nvidia’s share price has increased only 30.43%, rising from $142.05 in 2024 to $185.27 in 2025. This comparatively modest rise could indicate that Nvidia is undervalued and may present a potential buying opportunity.

However, EPS alone does not provide the full picture. Investors should also consider Nvidia’s balance sheet, income statement, cashflow statement, and forward guidance when assessing long-term value.

Technical Analysis: Key Price Levels to Watch

From a technical standpoint, Nvidia also shows potential for bullish movement. The share price is currently sitting on a Fibonacci resistance level at $186.38, following a bounce from a previous support zone. Should a breakout occur, the next major price target would be Nvidia’s highest high at $212.14.

On the downside, Fibonacci support remains at $147.83, providing a key level to watch if momentum weakens.

As is common before earnings announcements, Nvidia appears to be entering a period of market consolidation, with the RSI at 45 and price action moving towards the middle of the Bollinger Bands after a lower-band bounce.

Fundamental View: Premium Pricing but Positive Forward Outlook

Nvidia currently trades at a relatively high P/E ratio of 53.11, categorising it as a premium-priced stock. However, the company’s forward P/E of 27.37 suggests expectations of improved valuation and stronger earnings growth looking ahead.

This outlook generates potential price targets, with bullish estimates as high as $358.87 (a 93.70% upside) and more conservative targets around $244.09 (a 31.75% upside). These projections imply notable volatility and differ from the analyst consensus price of $242.00 (a 29.69% upside), suggesting potential overvaluation in the near term — yet still with conditions favourable for a bullish move.

Outlook for Traders and Investors

For both long-term investors and short-term traders, Nvidia continues to present a compelling opportunity due to its significant upside potential heading into the Q3 earnings release. However, investors should remain cautious of volatility, monitor financial statements, and watch for technical reversal signals before opening any new positions.