NVIDIA Corporation (NVDA) Receives Buy Rating from Canaccord Genuity
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Friday. They currently have a $190.00 price objective on the computer hardware maker’s stock. Canaccord Genuity’s price target indicates a potential upside of 16.07% from the company’s previous close.
NVDA has been the topic of several other research reports. Vetr upgraded NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $176.95 price target on the stock in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of NVIDIA Corporation in a report on Friday, May 19th. Royal Bank Of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA Corporation in a report on Thursday, July 13th. BidaskClub downgraded NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, Needham & Company LLC restated a “buy” rating on shares of NVIDIA Corporation in a research note on Friday, August 11th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $145.10.
NVIDIA Corporation (NASDAQ:NVDA) traded down 1.73% on Friday, hitting $163.69. 12,471,422 shares of the stock were exchanged. NVIDIA Corporation has a one year low of $57.31 and a one year high of $174.56. The company has a market cap of $98.21 billion, a P/E ratio of 47.08 and a beta of 1.25. The company’s 50 day moving average price is $165.45 and its 200-day moving average price is $134.61.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, beating the 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 company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 56.2% compared to the same quarter last year. Equities research analysts predict that NVIDIA Corporation will post $3.60 EPS for the current fiscal year.
In other news, Director A Brooke Seawell sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $170.19, for a total transaction of $5,105,700.00. Following the completion of the transaction, the director now directly owns 16,507 shares in the company, valued at approximately $2,809,326.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Byron sold 409 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $171.01, for a total value of $69,943.09. Following the transaction, the insider now owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The disclosure for this sale can be found here. Insiders have sold a total of 502,210 shares of company stock valued at $79,743,664 over the last 90 days. Corporate insiders own 5.82% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Intl Fcstone Inc. acquired a new position in shares of NVIDIA Corporation during the 2nd quarter worth about $254,000. Achmea Investment Management B.V. grew its position in shares of NVIDIA Corporation by 3.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 25,357 shares of the computer hardware maker’s stock worth $3,663,000 after buying an additional 941 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of NVIDIA Corporation during the 2nd quarter worth about $28,543,000. Sentry Investment Management LLC grew its position in shares of NVIDIA Corporation by 66.0% during the 2nd quarter. Sentry Investment Management LLC now owns 46,589 shares of the computer hardware maker’s stock worth $6,735,000 after buying an additional 18,518 shares during the period. Finally, Atlantic Trust LLC grew its position in shares of NVIDIA Corporation by 2,103.3% during the 2nd quarter. Atlantic Trust LLC now owns 11,193 shares of the computer hardware maker’s stock worth $1,618,000 after buying an additional 10,685 shares during the period. Institutional investors own 65.85% 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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