Royal Bank Of Canada Reaffirms “Buy” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDAGet Free Report)‘s stock had its “buy” rating restated by analysts at Royal Bank Of Canada in a research note issued to investors on Thursday,MarketScreener reports.

A number of other research firms also recently issued reports on NVDA. Morgan Stanley increased their target price on shares of NVIDIA from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $215.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. President Capital upped their target price on shares of NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of NVIDIA in a research report on Thursday, November 20th. Finally, Oppenheimer restated an “outperform” rating and issued a $265.00 price target on shares of NVIDIA in a research note on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.84.

Get Our Latest Research Report on NVDA

NVIDIA Price Performance

NASDAQ NVDA traded up $3.80 during trading hours on Thursday, reaching $186.94. The company’s stock had a trading volume of 206,301,789 shares, compared to its average volume of 162,634,922. NVIDIA has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The stock has a market cap of $4.54 trillion, a PE ratio of 46.39, a PEG ratio of 0.91 and a beta of 2.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The company’s 50-day moving average is $184.28 and its two-hundred day moving average is $180.36.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 62.5% on a year-over-year basis. Analysts forecast that NVIDIA will post 2.77 EPS for the current year.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 69,840 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $177.85, for a total value of $12,421,044.00. Following the completion of the sale, the executive vice president owned 1,424,603 shares in the company, valued at $253,365,643.55. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 222,500 shares of NVIDIA stock in a transaction on Friday, December 19th. The shares were sold at an average price of $180.17, for a total transaction of $40,087,825.00. Following the sale, the director directly owned 7,621,453 shares of the company’s stock, valued at $1,373,157,187.01. This trade represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,809,114 shares of company stock worth $330,707,331. 4.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in NVIDIA during the second quarter worth about $28,000. Winnow Wealth LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC raised its stake in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of NVIDIA in the second quarter valued at $40,000. Finally, Sellwood Investment Partners LLC bought a new position in NVIDIA in the third quarter worth $50,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

More NVIDIA News

Here are the key news stories impacting NVIDIA this week:

NVIDIA Company Profile

(Get Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.