NVIDIA Corporation (NASDAQ:NVDA) had its target price upped by stock analysts at Canaccord Genuity from $225.00 to $250.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Canaccord Genuity’s price target would suggest a potential upside of 18.28% from the stock’s current price.
A number of other brokerages have also recently issued reports on NVDA. Mizuho restated a “buy” rating and set a $180.00 price objective (up previously from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $140.00 price target on shares of NVIDIA Corporation in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of NVIDIA Corporation in a research note on Sunday, November 5th. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target for the company. in a research note on Thursday, August 31st. Finally, Instinet reiterated a “reduce” rating and issued a $110.00 price target (up from $90.00) on shares of NVIDIA Corporation in a research note on Monday, August 14th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. NVIDIA Corporation has an average rating of “Buy” and a consensus target price of $186.85.
Shares of NVIDIA Corporation (NVDA) traded down $0.25 during midday trading on Friday, reaching $211.36. The company’s stock had a trading volume of 12,856,672 shares, compared to its average volume of 17,684,484. The firm has a market capitalization of $126,820.00, a P/E ratio of 51.72, a PEG ratio of 4.54 and a beta of 1.23. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. NVIDIA Corporation has a 1 year low of $84.77 and a 1 year high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue was up 31.5% on a year-over-year basis. equities analysts forecast that NVIDIA Corporation will post 4.13 EPS for the current fiscal year.
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In related news, Director A Brooke Seawell sold 30,000 shares of NVIDIA Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $170.19, for a total transaction of $5,105,700.00. Following the completion of the sale, the director now owns 16,507 shares in the company, valued at approximately $2,809,326.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 451,503 shares of company stock valued at $81,997,895. Company insiders own 5.82% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Cibc World Markets Corp increased its position in NVIDIA Corporation by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock worth $18,549,000 after purchasing an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in NVIDIA Corporation by 9.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock worth $1,600,000 after purchasing an additional 1,000 shares in the last quarter. RB Capital Management LLC purchased a new stake in NVIDIA Corporation during the 2nd quarter worth about $272,000. Oppenheimer Asset Management Inc. grew its holdings in NVIDIA Corporation by 17.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after buying an additional 2,836 shares during the period. Finally, D. Scott Neal Inc. purchased a new stake in NVIDIA Corporation in the 2nd quarter valued at about $258,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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