Goldman Sachs Group, Inc. (The) Increases NVIDIA Corporation (NVDA) Price Target to $217.00
NVIDIA Corporation (NASDAQ:NVDA) had its target price hoisted by Goldman Sachs Group, Inc. (The) from $193.00 to $217.00 in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Goldman Sachs Group, Inc. (The)’s price target suggests a potential upside of 13.65% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. Susquehanna Bancshares Inc restated a “neutral” rating on shares of NVIDIA Corporation in a research note on Monday, July 3rd. B. Riley restated a “buy” rating and issued a $200.00 price target (up previously from $135.00) on shares of NVIDIA Corporation in a research note on Monday, August 7th. BidaskClub lowered shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Stifel Nicolaus restated a “hold” rating and issued a $110.00 price target on shares of NVIDIA Corporation in a research note on Friday, August 11th. Finally, MKM Partners restated a “neutral” rating and issued a $120.00 price target (up previously from $106.00) on shares of NVIDIA Corporation in a research note on Monday, August 14th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $156.80.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 1.06% during midday trading on Wednesday, reaching $190.94. The company’s stock had a trading volume of 13,213,496 shares. The stock has a 50 day moving average of $173.78 and a 200-day moving average of $147.08. The company has a market capitalization of $114.56 billion, a P/E ratio of 54.92 and a beta of 1.28. NVIDIA Corporation has a 1-year low of $63.70 and a 1-year high of $192.95.
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 consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business earned $0.53 earnings per share. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Corporation will post $3.64 earnings per share for the current year.
In related news, Director Mark L. Perry sold 16,281 shares of NVIDIA Corporation 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 transaction, the director now owns 48,069 shares in the company, valued at approximately $7,798,714.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. Insiders sold a total of 396,478 shares of company stock worth $70,872,012 in the last quarter. Insiders own 5.17% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Evercore Wealth Management LLC grew its position in 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 purchasing an additional 206 shares during the last quarter. TB Alternative Assets Ltd. acquired a new stake in NVIDIA Corporation in the 2nd quarter worth $116,000. Proficio Capital Partners LLC grew its position in 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 purchasing an additional 547 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in 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 purchasing an additional 6 shares during the last quarter. Finally, Hanson McClain Inc. grew its position in 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 purchasing an additional 99 shares during the last quarter. Institutional investors own 65.79% of the company’s stock.
NVIDIA Corporation Company Profile
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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