Loop Capital Increases NVIDIA Corporation (NVDA) Price Target to $205.00
NVIDIA Corporation (NASDAQ:NVDA) had its price objective lifted by equities researchers at Loop Capital from $181.00 to $205.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Loop Capital’s price objective points to a potential upside of 13.40% from the company’s current price.
A number of other analysts have also commented on the company. Vetr raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $174.03 price target on the stock in a research note on Monday, June 12th. Zacks Investment Research upgraded NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price objective for the company in a research report on Tuesday, July 11th. Canaccord Genuity restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA Corporation in a research report on Friday, September 8th. Mizuho restated a “buy” rating and set a $170.00 price objective (up from $145.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $155.31.
Shares of NVIDIA Corporation (NVDA) traded down 0.06% during mid-day trading on Thursday, reaching $180.77. The company’s stock had a trading volume of 10,934,105 shares. NVIDIA Corporation has a 12 month low of $63.70 and a 12 month high of $191.20. The company has a 50-day moving average of $171.24 and a 200-day moving average of $144.60. The firm has a market cap of $108.46 billion, a PE ratio of 51.99 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, analysts predict that NVIDIA Corporation will post $3.63 earnings per share for the current year.
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In other NVIDIA Corporation news, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $150.29, for a total transaction of $15,029,000.00. Following the sale, the director now directly owns 30,762 shares in the company, valued at approximately $4,623,220.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark L. Perry sold 16,281 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $162.24, for a total value of $2,641,429.44. Following the sale, the director now owns 48,069 shares in the company, valued at $7,798,714.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 496,478 shares of company stock worth $85,901,012. Company insiders own 5.82% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC boosted its stake in shares of NVIDIA Corporation by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after buying an additional 206 shares during the last quarter. TB Alternative Assets Ltd. purchased a new position in shares of NVIDIA Corporation in the 2nd quarter worth $116,000. Thompson Davis & CO. Inc. boosted its stake in shares of NVIDIA Corporation by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after buying an additional 6 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of NVIDIA Corporation by 186.1% in the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares during the last quarter. Finally, Hanson McClain Inc. boosted its stake in shares of NVIDIA Corporation by 12.7% in the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 65.79% 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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