NVIDIA (NASDAQ:NVDA) Given New $1,350.00 Price Target at Benchmark

NVIDIA (NASDAQ:NVDA) had its price target increased by research analysts at Benchmark from $1,000.00 to $1,350.00 in a report released on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. Benchmark’s target price would suggest a potential upside of 30.92% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Mizuho boosted their price objective on shares of NVIDIA from $1,000.00 to $1,180.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group boosted their target price on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler Companies boosted their target price on shares of NVIDIA to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $1,000.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, KeyCorp boosted their target price on shares of NVIDIA from $1,200.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Thursday. Four 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,115.20.

NVIDIA Stock Up 8.6 %

Shares of NASDAQ:NVDA traded up $81.64 during midday trading on Thursday, hitting $1,031.14. 22,091,759 shares of the company’s stock traded hands, compared to its average volume of 49,273,148. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The company has a market cap of $2.54 trillion, a PE ratio of 86.16, a P/E/G ratio of 1.33 and a beta of 1.75. The firm’s fifty day moving average price is $886.29 and its two-hundred day moving average price is $696.36. NVIDIA has a twelve month low of $298.06 and a twelve month high of $1,042.60.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The firm’s revenue was up 262.1% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA will post 23.18 EPS for the current fiscal year.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the completion of the sale, the director now owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVDA. Burney Co. boosted its stake in NVIDIA by 4.6% during the 1st quarter. Burney Co. now owns 27,939 shares of the computer hardware maker’s stock worth $25,245,000 after acquiring an additional 1,228 shares during the last quarter. Cedar Point Capital Partners LLC boosted its stake in NVIDIA by 6.0% during the 1st quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 28 shares during the last quarter. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter valued at approximately $27,000. Second Line Capital LLC lifted its stake in NVIDIA by 11.5% in the first quarter. Second Line Capital LLC now owns 2,014 shares of the computer hardware maker’s stock valued at $1,820,000 after buying an additional 208 shares in the last quarter. Finally, Swedbank AB bought a new position in NVIDIA in the first quarter valued at approximately $3,922,733,000. Institutional investors 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.