NVIDIA Corporation (NVDA) Price Target Increased to $190.00 by Analysts at Canaccord Genuity
NVIDIA Corporation (NASDAQ:NVDA) had its price target raised by equities research analysts at Canaccord Genuity from $180.00 to $190.00 in a research note issued on Monday. The firm currently has a “buy” rating on the computer hardware maker’s stock. Canaccord Genuity’s target price suggests a potential upside of 17.65% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on NVDA. BMO Capital Markets restated an “underperform” rating and issued a $85.00 price objective on shares of NVIDIA Corporation in a report on Monday, April 17th. Vetr cut shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $111.03 price objective on the stock. in a report on Tuesday, April 18th. Zacks Investment Research cut shares of NVIDIA Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating and issued a $130.00 price objective on shares of NVIDIA Corporation in a report on Tuesday, May 2nd. Finally, Instinet restated a “reduce” rating and issued a $90.00 price objective on shares of NVIDIA Corporation in a report on Friday, May 5th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $145.00.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 0.02% during trading on Monday, reaching $161.50. 15,030,107 shares of the company traded hands. The stock has a market capitalization of $96.42 billion, a P/E ratio of 46.45 and a beta of 1.24. NVIDIA Corporation has a 12-month low of $57.32 and a 12-month high of $174.56. The firm’s 50 day moving average is $161.56 and its 200-day moving average is $129.36.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The business’s revenue was up 56.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, equities research analysts anticipate that NVIDIA Corporation will post $3.60 earnings per share for the current fiscal year.
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In other news, EVP Ajay K. Puri sold 81,931 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $139.90, for a total value of $11,462,146.90. Following the completion of the sale, the executive vice president now owns 564,696 shares in the company, valued at approximately $79,000,970.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Brooke Seawell sold 3,107 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $140.00, for a total transaction of $434,980.00. Following the completion of the sale, the director now owns 5,165 shares of the company’s stock, valued at approximately $723,100. The disclosure for this sale can be found here. Insiders have sold 560,556 shares of company stock valued at $85,649,706 in the last quarter. 5.82% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in NVDA. RB Capital Management LLC purchased a new stake in NVIDIA Corporation during the second quarter valued at about $272,000. D. Scott Neal Inc. purchased a new stake in NVIDIA Corporation during the second quarter valued at about $258,000. Greenwich Wealth Management LLC raised its stake in NVIDIA Corporation by 0.6% in the first quarter. Greenwich Wealth Management LLC now owns 55,437 shares of the computer hardware maker’s stock valued at $6,039,000 after buying an additional 357 shares during the period. Columbus Circle Investors purchased a new stake in NVIDIA Corporation during the first quarter valued at about $8,530,000. Finally, Ameriprise Financial Inc. raised its stake in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock valued at $572,695,000 after buying an additional 1,672,231 shares during the period. Hedge funds and other institutional investors own 68.55% 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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