Given the degree of optimism among the investment analyst community, any dip in NVDA stock can be seen as an opportunity. That price target suggests a feeling that growth will be more modest over the next 12 months, but it still has upside. The Wall Street Journal’s poll of 44 investment analysts shows a consensus overweight rating for NVDA with an average $332.38 price target. However, most are still fully onboard with this company. There are risks to take into consideration, including a valuation that is pushing the comfort level of at least some analysts. High-flying NVDA stock currently earns an “A” rating in Portfolio Grader. “We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.” That sentiment was expressed by Wedbush analyst Matt Bryson, who downgraded NVDA from “outperform” to “neutral” on Friday. However, the biggest argument against NVDA stock may be that its spectacular growth rate has resulted in such a high valuation that it will run out of steam. A defeat would undoubtedly also have at least a temporary cooling effect on NVDA shares. While a negative outcome would hardly affect Nvidia’s current business, it would put a crimp on some of the company’s future plans. Regulators could derail the deal over competition and security concerns. Nvidia’s blockbuster $40 billion acquisition of custom chip designer Arm continues to be in doubt. I previously wrote about why 2021 is not going to be a repeat of 2018 for this company - despite the volatility of crypto currencies at this time - but the company does face other challenges. While NVDA stock has proven to be an absolute powerhouse, the events of 2018 proved that it is not invulnerable. Is There Any Potential Downside for NVDA Stock? And investors still have Q4 to look forward to, with its inevitable holiday shopping boost. Given the spectacular Q3 performance, it’s no wonder that NVDA shares popped in the aftermath. The company also announced a quarterly cash dividend of 4 cents per share. Nvidia delivered earnings per share of $1.17 compared to the $1.11 that had been projected. Those numbers demolished analyst expectations, as did earnings. Gaming revenue was another record-breaker, up 42% YoY. Data Center revenue was also a record, up 55% YoY. The company reported record revenue of $7.1 billion, up 50% year-over-year (YoY). 17, Nvidia delivered its Q3 earnings and it was a blockbuster announcement.