Share on StockTwits

NVIDIA Corp. (NASDAQ:NVDA) was upgraded by analysts at Evercore Partners from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, reports. The firm currently has a $16.00 price objective on the stock, up from their previous price objective of $12.00. Evercore Partners’ price target points to a potential downside of 2.56% from the stock’s previous close.

The analysts wrote, “NVIDIA continues to make progress in its growth drivers (auto, GRID, Tesla) while its core GPU business holds down the fort – especially during a choppy PC backdrop. We believe NVIDIA is headed in the right direction from a technology standpoint; however, the timing of revenue ramps (mostly 2015) and a rich valuation (22x FY16 EPS) keep us on the sidelines.”

Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of NVIDIA Corp. from $16.13 to $21.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of NVIDIA Corp. in a research note on Thursday. Finally, analysts at B. Riley upgraded shares of NVIDIA Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.11.

NVIDIA Corp. (NASDAQ:NVDA) opened at 16.83 on Thursday. NVIDIA Corp. has a 1-year low of $12.04 and a 1-year high of $16.95. The stock’s 50-day moving average is $15.83 and its 200-day moving average is $15.43. The company has a market cap of $9.568 billion and a price-to-earnings ratio of 21.74.

NVIDIA Corp. (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter 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 declared a quarterly dividend, which is scheduled for Thursday, March 20th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 2.07%.

NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.