NVIDIA Corporation (NASDAQ:NVDA) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $203.56 price objective on the computer hardware maker’s stock. Vetr‘s price target would indicate a potential upside of 5.11% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC raised their target price on shares of NVIDIA Corporation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday. Mizuho restated a “positive” rating and set a $220.00 target price (up from $180.00) on shares of NVIDIA Corporation in a report on Monday, October 16th. Needham & Company LLC raised their target price on shares of NVIDIA Corporation from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Bank of America Corporation set a $210.00 target price on shares of NVIDIA Corporation and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, Royal Bank Of Canada raised their target price on shares of NVIDIA Corporation from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. NVIDIA Corporation presently has a consensus rating of “Hold” and an average target price of $161.85.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded down 2.53% on Wednesday, hitting $193.66. The company had a trading volume of 20,704,030 shares. NVIDIA Corporation has a 12 month low of $66.57 and a 12 month high of $199.59. The stock has a market cap of $116.20 billion, a PE ratio of 55.70 and a beta of 1.28. The company has a 50-day moving average of $182.70 and a 200 day moving average of $153.95.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Analysts anticipate that NVIDIA Corporation will post $3.63 EPS for the current fiscal year.
In other news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the transaction, the insider now directly owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 22,808 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Insiders have sold a total of 452,784 shares of company stock valued at $81,437,724 over the last ninety days. 5.17% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in NVDA. Janus Henderson Group PLC lifted its holdings in shares of NVIDIA Corporation by 5,424.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after acquiring an additional 4,022,728 shares during the period. Vanguard Group Inc. lifted its holdings in NVIDIA Corporation by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after purchasing an additional 2,676,976 shares during the last quarter. Jackson Square Partners LLC bought a new position in NVIDIA Corporation during the 2nd quarter valued at about $229,323,000. Winslow Capital Management LLC bought a new position in NVIDIA Corporation during the 1st quarter valued at about $126,231,000. Finally, Edgewood Management LLC lifted its holdings in NVIDIA Corporation by 21.9% during the 1st quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after purchasing an additional 1,074,303 shares during the last quarter. 65.77% of the stock is owned by institutional investors.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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.