Royal Bank Of Canada Raises NVIDIA Corporation (NVDA) Price Target to $220.00
NVIDIA Corporation (NASDAQ:NVDA) had its price target raised by stock analysts at Royal Bank Of Canada from $205.00 to $220.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 15.17% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of NVIDIA Corporation in a research report on Monday, July 3rd. B. Riley reaffirmed a “buy” rating and issued a $200.00 price objective (up from $135.00) on shares of NVIDIA Corporation in a research report on Monday, August 7th. BidaskClub cut NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Stifel Nicolaus reiterated a “hold” rating and set a $110.00 target price on shares of NVIDIA Corporation in a research note on Friday, August 11th. Finally, MKM Partners reiterated a “neutral” rating and set a $120.00 target price (up 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 issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $157.88.
Shares of NVIDIA Corporation (NVDA) traded up 0.05% during midday trading on Thursday, reaching $191.03. The company’s stock had a trading volume of 13,207,315 shares. NVIDIA Corporation has a 12 month low of $65.52 and a 12 month high of $193.09. The firm has a market cap of $114.62 billion, a price-to-earnings ratio of 54.94 and a beta of 1.28. The company has a 50-day moving average price of $175.31 and a 200-day moving average price of $147.71.
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In other NVIDIA Corporation news, CFO Colette Kress sold 22,808 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.31, for a total value of $4,226,550.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark L. Perry sold 16,281 shares of the firm’s 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 owns 48,069 shares of the company’s stock, valued at $7,798,714.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 452,784 shares of company stock worth $81,437,724. 5.82% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. Janus Henderson Group PLC boosted its stake in NVIDIA Corporation by 5,424.4% in the second quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock valued at $592,244,000 after acquiring an additional 4,022,728 shares in the last quarter. Wellington Management Group LLP boosted its stake in NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock valued at $447,156,000 after acquiring an additional 3,419,701 shares in the last quarter. Vanguard Group Inc. boosted its stake in NVIDIA Corporation by 7.1% in the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after acquiring an additional 2,676,976 shares in the last quarter. Jackson Square Partners LLC acquired a new stake in NVIDIA Corporation in the second quarter valued at approximately $229,323,000. Finally, Winslow Capital Management LLC acquired a new stake in NVIDIA Corporation in the first quarter valued at approximately $126,231,000. 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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