NVIDIA (NASDAQ:NVDA) Given New $1,200.00 Price Target at The Goldman Sachs Group

NVIDIA (NASDAQ:NVDA) had its price target increased by equities research analysts at The Goldman Sachs Group from $1,100.00 to $1,200.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 26.38% from the stock’s previous close.

Several other analysts also recently commented on the stock. Benchmark reissued a “buy” rating and issued a $1,000.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price target on shares of NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. Morgan Stanley increased their price target on shares of NVIDIA from $795.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Robert W. Baird increased their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,044.68.

NVIDIA Stock Down 0.5 %

NVDA stock opened at $949.50 on Thursday. NVIDIA has a 52-week low of $298.06 and a 52-week high of $974.00. The company’s 50 day simple moving average is $886.29 and its 200-day simple moving average is $696.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 79.52, a P/E/G ratio of 1.33 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating the consensus estimate of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, equities research analysts anticipate that NVIDIA will post 23.18 EPS for the current year.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,278 shares of company stock valued at $52,689,898. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Brooklyn FI LLC grew its stake in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its stake in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC boosted its stake in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. M. Kraus & Co boosted its stake in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares during the last quarter. Finally, Sterling Financial Group Inc. boosted its stake in shares of NVIDIA by 0.9% in the first quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock worth $1,312,000 after buying an additional 13 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

About NVIDIA

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.