NVIDIA (NASDAQ:NVDA) Given New $150.00 Price Target at Evercore ISI

NVIDIA (NASDAQ:NVDA) had its target price hoisted by analysts at Evercore ISI from $145.00 to $150.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Evercore ISI’s price target would indicate a potential upside of 21.22% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Mizuho increased their price objective on NVIDIA from $118.00 to $127.50 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. KeyCorp raised their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Argus increased their price objective on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Robert W. Baird boosted their target price on shares of NVIDIA from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. Finally, Craig Hallum increased their target price on shares of NVIDIA from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $131.67.

NVIDIA Stock Down 3.7 %

Shares of NVIDIA stock opened at $123.74 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. NVIDIA has a 12-month low of $39.23 and a 12-month high of $140.76. The firm has a market capitalization of $3.04 trillion, a PE ratio of 72.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. The stock’s fifty day moving average is $121.00 and its 200-day moving average is $100.87.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 262.1% on a year-over-year basis. Equities analysts anticipate that NVIDIA will post 2.53 earnings per share for the current year.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the sale, the director now directly owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the sale, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The disclosure for this sale can be found here. Insiders sold 4,170,723 shares of company stock valued at $616,106,141 over the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Vanguard Group Inc. grew its holdings in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. raised its stake in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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.