NVIDIA Corporation (NVDA) Price Target Increased to $250.00 by Analysts at Evercore ISI
NVIDIA Corporation (NASDAQ:NVDA) had its price target increased by research analysts at Evercore ISI to $250.00 in a research report issued on Friday. The brokerage presently has an “outperform” rating on the computer hardware maker’s stock. Evercore ISI’s price target points to a potential upside of 47.60% from the company’s current price.
A number of other equities analysts have also weighed in on NVDA. Sanford C. Bernstein started coverage on NVIDIA Corporation in a research report on Thursday, May 18th. They set an “outperform” rating and a $165.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of NVIDIA Corporation in a report on Friday, May 19th. UBS AG reiterated a “buy” rating and set a $148.00 price target (up previously from $135.00) on shares of NVIDIA Corporation in a report on Friday, May 19th. Bank of America Corporation upped their price target on NVIDIA Corporation from $138.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. Finally, Roth Capital reiterated a “neutral” rating and set a $110.00 price target on shares of NVIDIA Corporation in a report on Monday, May 22nd. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $149.13.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 4.30% during trading on Friday, hitting $176.69. 9,112,052 shares of the stock traded hands. The firm has a market cap of $106.01 billion, a P/E ratio of 50.82 and a beta of 1.25. NVIDIA Corporation has a 52 week low of $62.12 and a 52 week high of $176.85. The company has a 50-day moving average of $165.78 and a 200-day moving average of $136.43.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. NVIDIA Corporation’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, analysts forecast that NVIDIA Corporation will post $3.61 EPS for the current fiscal year.
In related news, Director Harvey C. Jones sold 145,520 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total value of $23,182,791.20. Following the sale, the director now directly owns 30,762 shares in the company, valued at $4,900,694.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Burgess sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $158.08, for a total value of $7,904,000.00. Following the completion of the sale, the director now owns 14,350 shares in the company, valued at $2,268,448. The disclosure for this sale can be found here. Insiders sold 502,210 shares of company stock worth $79,743,664 over the last 90 days. Company insiders own 5.82% of the company’s stock.
Several large investors have recently bought and sold shares of NVDA. Evercore Wealth Management LLC raised its position in NVIDIA Corporation by 36.9% during the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 206 shares during the period. TB Alternative Assets Ltd. purchased a new stake in NVIDIA Corporation during the second quarter valued at approximately $116,000. Proficio Capital Partners LLC raised its position in NVIDIA Corporation by 186.1% during the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after purchasing an additional 547 shares during the period. Thompson Davis & CO. Inc. raised its position in NVIDIA Corporation by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after purchasing an additional 6 shares during the period. Finally, Hanson McClain Inc. raised its position in NVIDIA Corporation by 12.7% during the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after purchasing an additional 99 shares during the period. Institutional investors own 65.85% 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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