NVIDIA (NASDAQ:NVDA) Price Target Increased to $1,300.00 by Analysts at Sanford C. Bernstein

NVIDIA (NASDAQ:NVDA) had its target price upped by investment analysts at Sanford C. Bernstein from $1,000.00 to $1,300.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the computer hardware maker’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 36.91% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group assumed coverage on NVIDIA in a report on Monday, May 13th. They issued a “buy” rating and a $1,200.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $900.00 price objective on shares of NVIDIA in a report on Monday, March 4th. Benchmark restated a “buy” rating and issued a $1,000.00 price target on shares of NVIDIA in a research note on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $850.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, UBS Group lifted their price target on NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,059.68.

NVIDIA Trading Down 0.5 %

Shares of NASDAQ:NVDA opened at $949.50 on Thursday. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.34 trillion, a PE ratio of 79.52, a P/E/G ratio of 1.33 and a beta of 1.75. NVIDIA has a 12-month low of $298.06 and a 12-month high of $974.00. The business’s fifty day simple moving average is $886.29 and its 200-day simple moving average is $696.36.

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

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, 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 currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Burney Co. lifted its position in shares of NVIDIA by 4.6% during the 1st quarter. Burney Co. now owns 27,939 shares of the computer hardware maker’s stock valued at $25,245,000 after acquiring an additional 1,228 shares during the period. Cedar Point Capital Partners LLC raised its position in shares of NVIDIA by 6.0% during the 1st quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 28 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Second Line Capital LLC raised its position in shares of NVIDIA by 11.5% during the 1st quarter. Second Line Capital LLC now owns 2,014 shares of the computer hardware maker’s stock worth $1,820,000 after purchasing an additional 208 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $3,922,733,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.