Canaccord Genuity Reiterates Hold Rating for NVIDIA Corp. (NVDA)
NVIDIA Corp. (NASDAQ:NVDA)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity in a research report issued on Thursday, American Banking News.com reports. They currently have a $21.00 price target on the stock, up from their previous price target of $16.13. Canaccord Genuity’s price target suggests a potential upside of 27.89% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna reiterated a “neutral” rating on shares of NVIDIA Corp. in a research note on Thursday. Separately, analysts at B. Riley upgraded shares of NVIDIA Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday. Finally, analysts at RBC Capital raised their price target on shares of NVIDIA Corp. from $12.00 to $18.00 in a research note on Thursday. They now have a “sector perform” rating on the stock. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.21.
Shares of NVIDIA Corp. (NASDAQ:NVDA) traded up 1.01% on Thursday, hitting $17.00. 9,707,972 shares of the company’s stock traded hands. NVIDIA Corp. has a 52 week low of $12.04 and a 52 week high of $16.95. The stock has a 50-day moving average of $15.83 and a 200-day moving average of $15.43. The company has a market cap of $9.665 billion and a P/E ratio of 21.74.
NVIDIA Corp. (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 12th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.18 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts predict that NVIDIA Corp. will post $0.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, March 20th. Investors of record on Thursday, February 27th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.07%.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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