Heading into Nvidia's critical report next week, Wall Street remains decidedly bullish. Analysts' consensus estimates are calling for revenue of $33 billion -- or growth of about 82%. Nvidia has a strong track record of beating its own expectations and that of Wall Street, so the results could be more robust.

However, just this week analysts from Morgan Stanley and UBS raised their price targets on Nvidia stock to $160 and $185, respectively -- implying upside between approximately 10% and 28% as of market close on Nov. 11.

Nvidia stock may be sitting near a record high but Wall Street is getting even more bullish on the stock ahead of the chip maker’s hotly anticipated earnings next week. Nvidia surged to a record close of $148.

Thanks to five consecutive quarters of triple-digit revenue and profit growth, Nvidia stock has been on fire, up more than 900% (as of this writing) in less than two years. This has pushed the chipmaker's market cap above $3.

Shares of Nvidia (NASDAQ: NVDA) are close to new highs heading into the next earnings report on Nov. 20. Earnings season can lead to wild swings in stock prices, but one analyst believes Nvidia shares are worth buying now.