Wells Fargo & Company Raises NVIDIA (NASDAQ:NVDA) Price Target to $1,250.00

NVIDIA (NASDAQ:NVDA) had its price target lifted by Wells Fargo & Company from $1,150.00 to $1,250.00 in a report released on Thursday, Briefing.com reports. The firm currently has an “overweight” rating on the computer hardware maker’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.23% from the company’s previous close.

A number of other brokerages have also recently commented on NVDA. DA Davidson upped their price target on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Argus increased their price objective on NVIDIA from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $850.00 to $1,000.00 and gave the stock a “hold” rating in a report on Thursday. Evercore ISI increased their price objective on NVIDIA from $1,160.00 to $1,310.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Tigress Financial increased their price objective on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, 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 mid-day trading on Thursday, hitting $1,031.14. 22,091,759 shares of the company traded hands, compared to its average volume of 49,273,148. The stock has a market cap of $2.54 trillion, a P/E ratio of 86.16, a P/E/G ratio of 1.33 and a beta of 1.75. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. NVIDIA has a 12-month low of $298.06 and a 12-month high of $1,042.60. The stock has a 50-day moving average price of $886.29 and a two-hundred day moving average price of $696.36.

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

Insider Buying and Selling

In other news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Dabiri sold 128 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

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