NVIDIA Corporation (NASDAQ:NVDA) Rating Reiterated by B. Riley
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley in a report issued on Monday. They currently have a $200.00 price target on the computer hardware maker’s stock. B. Riley’s price target would indicate a potential upside of 16.11% from the company’s previous close.
NVDA has been the subject of a number of other research reports. BidaskClub raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price target (up previously from $155.00) on shares of NVIDIA Corporation in a research report on Monday, July 24th. Summit Redstone reaffirmed a “buy” rating on shares of NVIDIA Corporation in a research report on Saturday, July 22nd. Mizuho reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA Corporation in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA Corporation in a research report on Thursday, July 13th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $136.24.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up 3.07% during midday trading on Monday, reaching $172.35. The company’s stock had a trading volume of 17,902,147 shares. NVIDIA Corporation has a 52 week low of $57.31 and a 52 week high of $172.37. The stock has a market capitalization of $102.55 billion, a PE ratio of 57.85 and a beta of 1.24. The stock has a 50-day moving average price of $156.80 and a 200 day moving average price of $124.22.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. The business’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Equities analysts forecast that NVIDIA Corporation will post $3.10 earnings per share for the current year.
In related news, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $129.48, for a total value of $6,474,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harvey C. Jones sold 100,000 shares of NVIDIA Corporation stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $150.29, for a total transaction of $15,029,000.00. Following the completion of the transaction, the director now directly owns 30,762 shares in the company, valued at $4,623,220.98. The disclosure for this sale can be found here. Insiders sold 622,282 shares of company stock worth $93,304,082 over the last three months. 5.17% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its stake in shares of NVIDIA Corporation by 568.9% in the second quarter. Jennison Associates LLC now owns 9,402,566 shares of the computer hardware maker’s stock worth $442,015,000 after buying an additional 7,996,913 shares in the last quarter. Norges Bank bought a new stake in shares of NVIDIA Corporation during the fourth quarter worth $169,615,000. Baillie Gifford & Co. raised its stake in shares of NVIDIA Corporation by 36.7% in the fourth quarter. Baillie Gifford & Co. now owns 14,140,920 shares of the computer hardware maker’s stock worth $1,509,402,000 after buying an additional 3,795,368 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares in the last quarter. Finally, OppenheimerFunds Inc. bought a new stake in shares of NVIDIA Corporation during the fourth quarter worth $96,172,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.
About NVIDIA Corporation
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.
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