NVIDIA (NASDAQ:NVDA) had its target price reduced by equities research analysts at Royal Bank of Canada to $260.00 in a research report issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the computer hardware maker’s stock. Royal Bank of Canada’s price target indicates a potential upside of 28.46% from the company’s current price.

Other equities research analysts have also issued reports about the company. Goldman Sachs Group lowered NVIDIA from a “conviction-buy” rating to a “buy” rating in a research report on Friday. BidaskClub lowered NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $250.00 target price (up from $243.00) on shares of NVIDIA in a research report on Friday, August 17th. ValuEngine lowered NVIDIA from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Oppenheimer raised NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 target price for the company in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $285.60.

NASDAQ NVDA opened at $202.39 on Friday. The firm has a market capitalization of $121.18 billion, a P/E ratio of 43.34, a P/E/G ratio of 2.61 and a beta of 2.01. NVIDIA has a 12 month low of $176.01 and a 12 month high of $292.76. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.28. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.11 billion. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. NVIDIA’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Equities analysts expect that NVIDIA will post 7.15 EPS for the current year.

In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $266.31, for a total value of $3,082,804.56. Following the completion of the transaction, the chief financial officer now owns 297,482 shares in the company, valued at approximately $79,222,431.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the transaction, the insider now owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,707 shares of company stock valued at $32,347,973. 4.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kwmg LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at about $105,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $124,000. Almanack Investment Partners LLC. purchased a new stake in shares of NVIDIA in the 2nd quarter valued at about $127,000. Ropes Wealth Advisors LLC raised its holdings in shares of NVIDIA by 561.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after acquiring an additional 500 shares in the last quarter. Finally, JFS Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $141,000. Institutional investors and hedge funds own 65.85% of the company’s stock.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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