Wedbush Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,200.00

NVIDIA (NASDAQ:NVDA) had its price objective increased by Wedbush from $1,000.00 to $1,200.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Wedbush’s price target would indicate a potential upside of 13.38% from the company’s previous close.

Several other research analysts have also recently weighed in on NVDA. Cantor Fitzgerald boosted their price target on NVIDIA from $1,200.00 to $1,400.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley boosted their price target on NVIDIA from $1,000.00 to $1,160.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen boosted their price target on NVIDIA from $1,100.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on NVIDIA from $910.00 to $1,085.00 and gave the company a “buy” rating in a research report on Monday. Finally, DA Davidson upped their price objective on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,125.95.

NVIDIA Trading Up 11.5 %

NVDA traded up $108.91 on Thursday, hitting $1,058.41. 51,958,084 shares of the company were exchanged, compared to its average volume of 49,580,508. The firm has a fifty day simple moving average of $886.29 and a two-hundred day simple moving average of $696.36. The stock has a market capitalization of $2.60 trillion, a PE ratio of 88.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. NVIDIA has a 12 month low of $298.06 and a 12 month high of $1,058.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The business had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s quarterly revenue was up 262.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. Sell-side analysts expect that NVIDIA will post 23.18 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock worth $52,689,898. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the first quarter worth $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA during the first quarter worth $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA during the first quarter worth $45,000. Finally, Coston McIsaac & Partners boosted its stake in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is currently 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.