NVIDIA (NASDAQ:NVDA) PT Raised to $1,200.00 at TD Cowen

NVIDIA (NASDAQ:NVDA) had its price target hoisted by equities research analysts at TD Cowen from $1,100.00 to $1,200.00 in a research report issued on Thursday, Briefing.com reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. TD Cowen’s price target suggests a potential upside of 26.38% from the stock’s current price.

A number of other equities analysts have also commented on the company. HSBC lifted their price objective on NVIDIA from $1,050.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Benchmark reiterated a “buy” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research note on Wednesday, March 20th. Sanford C. Bernstein lifted their target price on NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Citigroup lifted their price objective on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Robert W. Baird boosted their target price on NVIDIA from $1,050.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday. Four 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,044.68.

NVIDIA Price Performance

NASDAQ NVDA opened at $949.50 on Thursday. NVIDIA has a fifty-two week low of $298.06 and a fifty-two week high of $974.00. The stock’s 50-day moving average is $886.29 and its two-hundred day 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 cap of $2.34 trillion, a P/E ratio of 79.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue was up 262.1% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. On average, analysts anticipate that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock worth $52,689,898 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently bought and sold shares of the stock. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter worth $27,000. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA in the fourth quarter worth $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter worth $28,000. Finally, Your Advocates Ltd. LLP acquired a new position in shares of NVIDIA during the 3rd quarter worth $30,000. 65.27% of the stock is currently owned by hedge funds and other 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.