NVIDIA’s (NVDA) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating restated by research analysts at Royal Bank Of Canada in a report issued on Friday, November 17th, MarketBeat.com reports. They presently have a $250.00 price target on the computer hardware maker’s stock, up from their previous price target of $240.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 32.09% from the stock’s current price.

Several other research analysts also recently weighed in on NVDA. Vetr downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $172.54 target price on the stock. in a research report on Thursday, August 31st. Credit Suisse Group reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, August 31st. Goldman Sachs Group raised their price target on NVIDIA from $193.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 11th. B. Riley lifted their target price on NVIDIA from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, September 28th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $187.38.

Shares of NVIDIA (NVDA) traded up $1.52 on Friday, hitting $189.26. The stock had a trading volume of 11,629,561 shares, compared to its average volume of 17,610,807. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. NVIDIA has a 12-month low of $87.54 and a 12-month high of $218.67. The stock has a market cap of $113,115.96, a price-to-earnings ratio of 45.97, a PEG ratio of 4.04 and a beta of 1.18.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. research analysts forecast that NVIDIA will post 4.13 earnings per share for the current fiscal year.

In other news, Director A Brooke Seawell sold 1,029 shares of NVIDIA stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the transaction, the director now owns 1,029 shares of the company’s stock, valued at approximately $220,308.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 22,808 shares of NVIDIA stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.31, for a total transaction of $4,226,550.48. The disclosure for this sale can be found here. Insiders have sold 315,175 shares of company stock worth $59,428,079 in the last three months. Insiders own 5.17% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Welch Investments LLC acquired a new position in NVIDIA in the third quarter valued at about $104,000. Evercore Wealth Management LLC lifted its stake in shares of NVIDIA by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the period. TB Alternative Assets Ltd. acquired a new position in shares of NVIDIA in the second quarter worth approximately $116,000. Thompson Davis & CO. Inc. lifted its stake in shares of NVIDIA by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares during the period. Finally, Hanson McClain Inc. lifted its stake in shares of NVIDIA by 12.7% in the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after acquiring an additional 99 shares during the period. 63.51% of the stock is currently owned by hedge funds and other institutional investors.

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NVIDIA Company Profile

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.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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