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.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Equities analysts expect that NVIDIA Corporation will post $3.64 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/12/royal-bank-of-canada-raises-nvidia-corporation-nvda-price-target-to-220-00.html.
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.
Receive News & Ratings for NVIDIA Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA Corporation and related companies with MarketBeat.com's FREE daily email newsletter.