NVIDIA (NASDAQ:NVDA) had its target price raised by equities researchers at Oppenheimer from $350.00 to $400.00 in a research report issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the computer hardware maker’s stock. Oppenheimer’s price target would indicate a potential upside of 13.96% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, April 22nd. Piper Sandler reissued an “overweight” rating and set a $390.00 price objective (up previously from $350.00) on shares of NVIDIA in a research report on Friday. Barclays reissued a “buy” rating and set a $300.00 price objective on shares of NVIDIA in a research report on Friday, February 14th. Credit Suisse Group started coverage on NVIDIA in a research report on Thursday. They set an “outperform” rating and a $425.00 price objective for the company. Finally, Goldman Sachs Group reissued a “buy” rating on shares of NVIDIA in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $334.73.
Shares of NASDAQ:NVDA opened at $351.01 on Friday. NVIDIA has a fifty-two week low of $132.60 and a fifty-two week high of $363.50. The business has a 50-day moving average of $290.96 and a two-hundred day moving average of $251.57. The stock has a market capitalization of $220.71 billion, a P/E ratio of 77.66, a P/E/G ratio of 3.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.67 and a quick ratio of 7.13.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.60. NVIDIA had a return on equity of 26.08% and a net margin of 25.60%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. As a group, research analysts expect that NVIDIA will post 6.29 EPS for the current fiscal year.
In related news, Director Robert K. Burgess sold 20,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $222.33, for a total transaction of $4,446,600.00. Following the sale, the director now directly owns 13,935 shares in the company, valued at approximately $3,098,168.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James C. Gaither sold 15,669 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $269.41, for a total value of $4,221,385.29. Following the sale, the director now owns 2,221 shares in the company, valued at $598,359.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,669 shares of company stock worth $27,025,985. 4.64% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Accurate Investment Solutions Inc. boosted its position in NVIDIA by 111.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. PrairieView Partners LLC bought a new position in NVIDIA in the 1st quarter valued at $26,000. Stonebridge Financial Planning Group LLC bought a new position in NVIDIA in the 4th quarter valued at $28,000. Howard Wealth Management LLC bought a new position in NVIDIA in the 4th quarter valued at $28,000. Finally, Braun Bostich & Associates Inc. bought a new position in NVIDIA in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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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