NVIDIA Given New $20.00 Price Target at JPMorgan Chase & Co. (NVDA)
Equities research analysts at JPMorgan Chase & Co. raised their target price on shares of NVIDIA (NASDAQ:NVDA) from $19.00 to $20.00 in a research note issued to investors on Friday. JPMorgan Chase & Co.’s price target indicates a potential upside of 5.26% from the company’s current price.
Shares of NVIDIA (NASDAQ:NVDA) traded up 8.82% during mid-day trading on Friday, hitting $19.00. The stock had a trading volume of 22,366,080 shares. NVIDIA has a 52-week low of $13.11 and a 52-week high of $19.73. The stock has a 50-day moving average of $18.44 and a 200-day moving average of $18.18. The company has a market cap of $10.601 billion and a price-to-earnings ratio of 20.49.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.16 earnings per share. NVIDIA’s revenue was up 12.9% compared to the same quarter last year. Analysts expect that NVIDIA will post $0.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Thursday, August 21st will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, August 19th.
In other NVIDIA news, CAO David M. Shannon sold 2,445 shares of NVIDIA stock on the open market in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $17.66, for a total transaction of $43,178.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on NVDA. Analysts at Deutsche Bank raised their price target on shares of NVIDIA from $16.00 to $17.00 in a research note on Friday. Separately, analysts at Canaccord Genuity raised their price target on shares of NVIDIA from $19.00 to $20.00 in a research note on Friday. Finally, analysts at BMO Capital Markets raised their price target on shares of NVIDIA from $15.00 to $18.00 in a research note on Friday. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. NVIDIA has an average rating of “Hold” and an average price target of $20.04.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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