NVIDIA Corporation (NVDA) Stock Rating Reaffirmed by B. Riley
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research report issued to clients and investors on Tuesday. They presently have a $200.00 target price on the computer hardware maker’s stock. B. Riley’s target price suggests a potential upside of 5.89% from the stock’s previous close.
Several other equities analysts also recently weighed in on NVDA. Vetr upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $174.03 target price on the stock in a research report on Monday, June 12th. Royal Bank Of Canada lifted their target price on NVIDIA Corporation from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 12th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $171.00 target price (up from $165.00) on shares of NVIDIA Corporation in a research report on Wednesday, June 14th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA Corporation in a research report on Friday, June 16th. Finally, BidaskClub upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $156.80.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up 0.938% during mid-day trading on Tuesday, hitting $190.703. The company’s stock had a trading volume of 10,185,663 shares. NVIDIA Corporation has a 52-week low of $63.70 and a 52-week high of $192.95. The stock’s 50 day moving average price is $173.78 and its 200 day moving average price is $147.08. The company has a market cap of $114.42 billion, a price-to-earnings ratio of 54.177 and a beta of 1.28.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.32. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities analysts forecast that NVIDIA Corporation will post $3.64 EPS for the current year.
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In related news, Director A Brooke Seawell sold 30,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $170.19, for a total value of $5,105,700.00. Following the transaction, the director now directly owns 16,507 shares of the company’s stock, valued at approximately $2,809,326.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction on 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 three months, insiders sold 396,478 shares of company stock worth $70,872,012. 5.17% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp boosted its holdings in NVIDIA Corporation by 12.1% in the second quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after purchasing an additional 13,802 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in NVIDIA Corporation by 9.9% in the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after purchasing an additional 1,000 shares during the last quarter. RB Capital Management LLC purchased a new stake in NVIDIA Corporation in the second quarter valued at $272,000. Oppenheimer Asset Management Inc. boosted its holdings in NVIDIA Corporation by 17.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after purchasing an additional 2,836 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new stake in NVIDIA Corporation in the second quarter valued at $258,000. 65.79% of the stock is currently owned by hedge funds and other institutional investors.
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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