NVIDIA (NASDAQ:NVDA) had its target price hoisted by equities researchers at Piper Sandler from $250.00 to $275.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the computer hardware maker’s stock. Piper Sandler’s price objective would indicate a potential upside of 11.21% from the company’s current price.
A number of other equities research analysts also recently issued reports on NVDA. BMO Capital Markets reissued a “market perform” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, November 14th. Bank of America boosted their price target on NVIDIA from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Evercore ISI boosted their price target on NVIDIA from $185.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Needham & Company LLC raised NVIDIA from an “underperform” rating to a “hold” rating in a research report on Monday. Finally, New Street Research downgraded NVIDIA from a “buy” rating to a “neutral” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $228.86.
Shares of NASDAQ:NVDA opened at $247.28 on Wednesday. The company has a market cap of $151.34 billion, a P/E ratio of 40.74, a P/E/G ratio of 6.05 and a beta of 2.04. The company has a quick ratio of 7.71, a current ratio of 8.42 and a debt-to-equity ratio of 0.22. NVIDIA has a 52 week low of $131.00 and a 52 week high of $252.99. The business has a fifty day simple moving average of $229.24 and a 200-day simple moving average of $191.53.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.21. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. Sell-side analysts expect that NVIDIA will post 4.32 earnings per share for the current fiscal year.
In related news, CFO Colette Kress sold 2,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.43, for a total value of $470,860.00. Following the transaction, the chief financial officer now owns 169,989 shares in the company, valued at $40,020,510.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 20,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $212.75, for a total value of $4,255,000.00. Following the completion of the transaction, the director now owns 22,221 shares in the company, valued at approximately $4,727,517.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,785 shares of company stock worth $9,965,644. Insiders own 4.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NVDA. State Street Corp raised its stake in NVIDIA by 1.4% during the third quarter. State Street Corp now owns 24,646,826 shares of the computer hardware maker’s stock valued at $4,290,273,000 after buying an additional 336,468 shares in the last quarter. Morgan Stanley raised its stake in NVIDIA by 3.6% during the second quarter. Morgan Stanley now owns 4,210,827 shares of the computer hardware maker’s stock valued at $691,544,000 after buying an additional 144,783 shares in the last quarter. Nuveen Asset Management LLC raised its stake in NVIDIA by 2,475.9% during the second quarter. Nuveen Asset Management LLC now owns 3,002,209 shares of the computer hardware maker’s stock valued at $493,052,000 after buying an additional 2,885,660 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in NVIDIA by 10.6% during the third quarter. Parametric Portfolio Associates LLC now owns 1,432,147 shares of the computer hardware maker’s stock valued at $249,294,000 after buying an additional 137,807 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in NVIDIA by 45.3% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,306,554 shares of the computer hardware maker’s stock valued at $214,576,000 after buying an additional 407,354 shares in the last quarter. Institutional investors and hedge funds own 65.02% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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