Wedbush Comments on NVIDIA Co.’s Q2 2021 Earnings (NASDAQ:NVDA)

NVIDIA Co. (NASDAQ:NVDA) – Equities researchers at Wedbush decreased their Q2 2021 earnings per share estimates for shares of NVIDIA in a report released on Wednesday, February 12th. Wedbush analyst M. Bryson now expects that the computer hardware maker will earn $1.47 per share for the quarter, down from their previous forecast of $1.48. Wedbush currently has a “Outperform” rating and a $295.00 target price on the stock.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.21. NVIDIA had a net margin of 24.08% and a return on equity of 22.02%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the company earned $1.84 EPS. The business’s revenue was down 5.2% on a year-over-year basis.

Several other brokerages also recently issued reports on NVDA. Craig Hallum reiterated a “positive” rating and issued a $300.00 target price (up from $255.00) on shares of NVIDIA in a research note on Monday, January 13th. Wells Fargo & Co raised their price objective on shares of NVIDIA from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James raised their price objective on shares of NVIDIA from $180.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Piper Jaffray Companies raised their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Susquehanna Bancshares raised their price objective on shares of NVIDIA from $285.00 to $310.00 and gave the stock a “positive” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. NVIDIA has an average rating of “Buy” and a consensus target price of $241.42.

NASDAQ:NVDA traded up $0.46 during mid-day trading on Thursday, hitting $273.00. The stock had a trading volume of 4,105,678 shares, compared to its average volume of 7,598,854. NVIDIA has a twelve month low of $132.60 and a twelve month high of $272.80. The stock has a market cap of $166.95 billion, a price-to-earnings ratio of 69.82, a PEG ratio of 3.88 and a beta of 2.04. The company’s 50 day simple moving average is $244.63 and its 200 day simple moving average is $203.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.71 and a current ratio of 8.42.

In related news, Director Robert K. Burgess sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $230.71, for a total transaction of $1,845,680.00. Following the completion of the sale, the director now directly owns 13,894 shares of the company’s stock, valued at approximately $3,205,484.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 629 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.50, for a total value of $138,694.50. Following the sale, the director now directly owns 1,592 shares of the company’s stock, valued at $351,036. The disclosure for this sale can be found here. Insiders have sold a total of 51,785 shares of company stock valued at $11,454,424 over the last three months. Corporate insiders own 4.64% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in NVIDIA by 2.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,968 shares of the computer hardware maker’s stock worth $463,000 after acquiring an additional 42 shares during the period. Wealthcare Capital Management LLC lifted its position in shares of NVIDIA by 44.2% in the fourth quarter. Wealthcare Capital Management LLC now owns 137 shares of the computer hardware maker’s stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. Certified Advisory Corp lifted its position in shares of NVIDIA by 11.4% in the fourth quarter. Certified Advisory Corp now owns 409 shares of the computer hardware maker’s stock valued at $96,000 after acquiring an additional 42 shares in the last quarter. RB Capital Management LLC lifted its position in shares of NVIDIA by 1.6% in the fourth quarter. RB Capital Management LLC now owns 2,661 shares of the computer hardware maker’s stock valued at $628,000 after acquiring an additional 42 shares in the last quarter. Finally, National Asset Management Inc. lifted its position in shares of NVIDIA by 0.3% in the fourth quarter. National Asset Management Inc. now owns 16,828 shares of the computer hardware maker’s stock valued at $3,962,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 65.23% 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.

Further Reading: Price to Earnings Ratio (PE) Basics

Earnings History and Estimates for NVIDIA (NASDAQ:NVDA)

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