NVIDIA (NASDAQ:NVDA) Earns Buy Rating from Sanford C. Bernstein

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by equities researchers at Sanford C. Bernstein in a note issued to investors on Tuesday,MarketScreener reports.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird set a $275.00 price target on NVIDIA and gave the company an “outperform” rating in a research report on Thursday, November 20th. Wolfe Research raised their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Evercore ISI set a $352.00 price objective on NVIDIA and gave the company an “outperform” rating in a report on Thursday, November 20th. Truist Financial boosted their price target on shares of NVIDIA from $228.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, New Street Research reissued a “buy” rating and set a $307.00 price objective on shares of NVIDIA in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $258.65.

NVIDIA Trading Down 0.6%

Shares of NVIDIA stock opened at $183.78 on Tuesday. The stock has a market capitalization of $4.47 trillion, a P/E ratio of 45.60, a P/E/G ratio of 0.91 and a beta of 2.29. NVIDIA has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The stock’s 50-day simple moving average is $187.10 and its 200 day simple moving average is $173.19.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter last year, the company earned $0.81 earnings per share. The company’s revenue was up 62.5% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 350,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $181.73, for a total value of $63,605,500.00. Following the sale, the director owned 7,049,803 shares in the company, valued at $1,281,160,699.19. This represents a 4.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 12,728 shares of NVIDIA stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $183.93, for a total value of $2,341,061.04. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,029,931 shares of company stock worth $548,443,455. Company insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new position in NVIDIA in the 2nd quarter valued at approximately $28,000. Winnow Wealth LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth $32,000. Longfellow Investment Management Co. LLC raised its stake in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of NVIDIA in the second quarter worth $40,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of NVIDIA during the third quarter valued at $50,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.