Wedbush Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,200.00

NVIDIA (NASDAQ:NVDA) had its price objective lifted by analysts at Wedbush from $1,000.00 to $1,200.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the computer hardware maker’s stock. Wedbush’s price target would indicate a potential upside of 13.38% from the stock’s current price.

A number of other analysts have also weighed in on NVDA. Piper Sandler Companies raised their price target on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Craig Hallum lifted their target price on shares of NVIDIA from $850.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald lifted their target price on shares of NVIDIA from $1,200.00 to $1,400.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC lifted their target price on shares of NVIDIA from $850.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of NVIDIA from $910.00 to $1,085.00 and gave the stock a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $1,125.95.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $108.91 during mid-day trading on Thursday, hitting $1,058.41. 51,958,084 shares of the stock were exchanged, compared to its average volume of 49,580,508. The company has a market cap of $2.60 trillion, a P/E ratio of 88.51, a PEG ratio of 1.33 and a beta of 1.75. The stock’s fifty day simple moving average is $886.29 and its two-hundred day simple moving average is $696.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. NVIDIA has a twelve month low of $298.06 and a twelve month high of $1,058.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The business had revenue of $26.04 billion during 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%. NVIDIA’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. As a group, analysts forecast that NVIDIA will post 23.18 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the business’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 transaction, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were 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 in the company, valued at approximately $1,931,700. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’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 transaction, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVDA. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA in the 4th quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new stake in NVIDIA in the 4th quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP bought a new stake in NVIDIA in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Company Profile

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.