NVIDIA Corporation (NASDAQ:NVDA) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $196.86 price target on the computer hardware maker’s stock. Vetr‘s price target points to a potential upside of 4.22% from the company’s current price.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Mizuho reissued a “buy” rating and set a $170.00 price objective (up from $145.00) on shares of NVIDIA Corporation in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $171.00 price objective (up from $165.00) on shares of NVIDIA Corporation in a report on Wednesday, June 14th. Bank of America Corporation reissued a “buy” rating and set a $185.00 price objective on shares of NVIDIA Corporation in a report on Wednesday, June 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective (up from $130.00) on shares of NVIDIA Corporation in a report on Monday, July 10th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $155.56.

NVIDIA Corporation (NASDAQ NVDA) traded up 1.91% on Tuesday, hitting $188.93. The company’s stock had a trading volume of 24,371,902 shares. The firm has a 50 day moving average of $173.78 and a 200 day moving average of $147.08. NVIDIA Corporation has a 12 month low of $63.70 and a 12 month high of $192.95. The firm has a market cap of $113.36 billion, a price-to-earnings ratio of 54.34 and a beta of 1.28.

NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.32. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The company’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Equities research analysts forecast that NVIDIA Corporation will post $3.64 earnings per share for the current fiscal year.

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In other news, insider Michael Byron sold 409 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark L. Perry sold 16,281 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $162.24, for a total transaction of $2,641,429.44. Following the completion of the sale, the director now directly owns 48,069 shares of the company’s stock, valued at approximately $7,798,714.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 396,478 shares of company stock valued at $70,872,012. 5.17% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of NVDA. Baker Avenue Asset Management grew its stake in shares of NVIDIA Corporation by 220.6% in the 3rd quarter. Baker Avenue Asset Management now owns 54,600 shares of the computer hardware maker’s stock valued at $1,346,000 after buying an additional 37,570 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft grew its stake in shares of NVIDIA Corporation by 114.7% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 519,105 shares of the computer hardware maker’s stock valued at $12,744,000 after buying an additional 277,379 shares during the period. Centre Asset Management grew its stake in shares of NVIDIA Corporation by 41.2% in the 4th quarter. Centre Asset Management now owns 381,658 shares of the computer hardware maker’s stock valued at $12,579,000 after buying an additional 111,300 shares during the period. Janus Capital Management grew its stake in shares of NVIDIA Corporation by 56.3% in the 3rd quarter. Janus Capital Management now owns 883,890 shares of the computer hardware maker’s stock valued at $21,788,000 after buying an additional 318,348 shares during the period. Finally, Reynolds Capital Management purchased a new stake in shares of NVIDIA Corporation in the 4th quarter valued at approximately $353,000. 65.79% of the stock is owned by institutional investors and hedge funds.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for NVIDIA Corporation (NASDAQ:NVDA)

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