NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,300.00

NVIDIA (NASDAQ:NVDA) had its price target increased by research analysts at Sanford C. Bernstein from $1,000.00 to $1,300.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the computer hardware maker’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 36.91% from the stock’s current price.

NVDA has been the topic of several other research reports. Raymond James upped their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research report on Friday, May 17th. Citigroup upped their price objective on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. KeyCorp upped their price objective on NVIDIA from $1,200.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, HSBC upped their price objective on NVIDIA from $1,050.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $1,059.68.

NVIDIA Stock Down 0.5 %

Shares of NVDA opened at $949.50 on Thursday. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 79.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. NVIDIA has a 1 year low of $298.06 and a 1 year high of $974.00. The business’s 50 day simple moving average is $886.29 and its 200-day simple moving average is $696.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating the consensus estimate of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, equities analysts expect that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock worth $52,689,898 over the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Vanguard Group Inc. boosted its position in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares in the last quarter. Norges Bank purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $14,606,369,000. Northern Trust Corp lifted its holdings in shares of NVIDIA by 3.6% in the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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.