NVIDIA Corporation (NVDA) Given Outperform Rating at Royal Bank Of Canada
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank Of Canada in a note issued to investors on Monday. They currently have a $230.00 price target on the computer hardware maker’s stock, up from their prior price target of $220.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 13.94% from the company’s previous close.
A number of other research analysts have also recently commented on NVDA. Mizuho reissued a “buy” rating and issued a $180.00 price target (up from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $140.00 price target on shares of NVIDIA Corporation in a report on Wednesday, August 16th. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target on the stock. in a report on Thursday, August 31st. Zacks Investment Research raised NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target on the stock in a report on Tuesday, July 11th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of NVIDIA Corporation in a report on Thursday, August 10th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. NVIDIA Corporation has a consensus rating of “Hold” and a consensus target price of $162.12.
Shares of NVIDIA Corporation (NASDAQ NVDA) traded up 1.14% during midday trading on Monday, hitting $204.17. 4,822,309 shares of the stock were exchanged. The stock has a market cap of $122.50 billion, a P/E ratio of 58.72 and a beta of 1.28. NVIDIA Corporation has a 52-week low of $66.57 and a 52-week high of $206.09. The firm’s 50 day moving average price is $184.51 and its 200-day moving average price is $154.99.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 56.2% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Corporation will post $3.63 earnings per share for the current fiscal year.
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In other NVIDIA Corporation news, EVP Debora Shoquist sold 33,498 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $189.24, for a total value of $6,339,161.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 50,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 452,784 shares of company stock valued at $81,437,724. 5.17% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in NVDA. Janus Henderson Group PLC raised 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 buying an additional 4,022,728 shares during the last quarter. Vanguard Group Inc. raised 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 buying an additional 2,676,976 shares during the last quarter. Jackson Square Partners LLC purchased a new stake in NVIDIA Corporation in the second quarter valued at about $229,323,000. Winslow Capital Management LLC purchased a new stake in NVIDIA Corporation in the first quarter valued at about $126,231,000. Finally, Edgewood Management LLC raised its stake in NVIDIA Corporation by 21.9% in the first quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock valued at $652,270,000 after buying an additional 1,074,303 shares during the last quarter. Institutional investors own 65.59% 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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