NVIDIA PT Raised to $18.00 (NVDA)
Investment analysts at BMO Capital Markets boosted their price objective on shares of NVIDIA (NASDAQ:NVDA) from $15.00 to $18.00 in a note issued to investors on Friday. BMO Capital Markets’ price objective would suggest a potential downside of 5.26% from the stock’s previous close.
NVIDIA (NASDAQ:NVDA) traded up 8.82% during mid-day trading on Friday, hitting $19.00. 22,366,080 shares of the company’s stock traded hands. NVIDIA has a 1-year low of $13.11 and a 1-year high of $19.73. The stock’s 50-day moving average is $18.44 and its 200-day moving average is $18.18. The company has a market cap of $10.601 billion and a P/E ratio of 20.49.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts predict that NVIDIA will post $0.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, August 19th.
In other NVIDIA news, CAO David M. Shannon sold 2,445 shares of NVIDIA stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $17.66, for a total value of $43,178.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NVDA has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of NVIDIA from $17.00 to $18.00 in a research note on Friday. Separately, analysts at Nomura reiterated a “buy” rating on shares of NVIDIA in a research note on Friday. They now have a $22.00 price target on the stock, up previously from $20.00. Finally, analysts at Morgan Stanley raised their price target on shares of NVIDIA from $14.00 to $15.00 in a research note on Friday. They now have an “underperform” rating on the stock. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. NVIDIA has a consensus rating of “Hold” and a consensus target price of $20.04.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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