Bank of America Corporation Reiterates $210.00 Price Target for NVIDIA Corporation (NVDA)
NVIDIA Corporation (NASDAQ:NVDA) received a $210.00 price target from investment analysts at Bank of America Corporation in a report issued on Thursday. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Bank of America Corporation’s price target indicates a potential upside of 9.93% from the stock’s previous close.
A number of other brokerages also recently weighed in on NVDA. Royal Bank Of Canada lifted their target price on shares of NVIDIA Corporation from $205.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. B. Riley reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA Corporation in a research note on Tuesday. Vetr raised shares of NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $196.86 target price for the company in a research note on Tuesday. Goldman Sachs Group, Inc. (The) lifted their target price on shares of NVIDIA Corporation from $193.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Loop Capital lifted their target price on shares of NVIDIA Corporation from $181.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA Corporation currently has an average rating of “Hold” and an average price target of $157.88.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 0.05% during mid-day trading on Thursday, hitting $191.03. 13,207,315 shares of the company’s stock traded hands. The company has a market cap of $114.62 billion, a PE ratio of 54.94 and a beta of 1.28. NVIDIA Corporation has a 52 week low of $65.52 and a 52 week high of $193.09. The firm has a 50-day moving average of $175.31 and a 200 day moving average of $147.71.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. Equities research analysts predict that NVIDIA Corporation will post $3.64 EPS for the current year.
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In other NVIDIA Corporation news, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $189.62, for a total value of $9,481,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Debora Shoquist sold 33,498 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $189.24, for a total transaction of $6,339,161.52. The disclosure for this sale can be found here. In the last three months, insiders sold 452,784 shares of company stock valued at $81,437,724. Corporate insiders own 5.82% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NVDA. Evercore Wealth Management LLC grew its stake 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 buying an additional 206 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in NVIDIA Corporation in the 2nd quarter worth approximately $116,000. Proficio Capital Partners LLC grew its stake 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 buying an additional 547 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake 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 buying an additional 6 shares in the last quarter. Finally, Hanson McClain Inc. grew its stake 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 buying an additional 99 shares in the last quarter. 65.79% of the stock is owned by institutional investors and hedge funds.
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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