NVIDIA (NASDAQ:NVDA) Given “Buy” Rating at Royal Bank Of Canada

NVIDIA (NASDAQ:NVDAGet Free Report)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank Of Canada in a report released on Thursday,MarketScreener reports.

A number of other research analysts have also recently issued reports on NVDA. Jefferies Financial Group reaffirmed a “buy” rating and issued a $250.00 price target (up from $240.00) on shares of NVIDIA in a report on Thursday, November 20th. CICC Research increased their price objective on shares of NVIDIA from $200.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NVIDIA in a report on Tuesday, January 6th. Melius Research upped their target price on shares of NVIDIA from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, Piper Sandler restated an “overweight” rating on shares of NVIDIA in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.84.

View Our Latest Stock Analysis on NVDA

NVIDIA Price Performance

NASDAQ NVDA traded up $3.80 during trading on Thursday, reaching $186.94. 206,301,789 shares of the company traded hands, compared to its average volume of 162,634,922. NVIDIA has a 1-year low of $86.62 and a 1-year high of $212.19. The company has a market cap of $4.54 trillion, a price-to-earnings ratio of 46.39, a P/E/G ratio of 0.91 and a beta of 2.31. The stock’s 50 day moving average price is $184.28 and its two-hundred day moving average price is $180.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. NVIDIA’s quarterly revenue was up 62.5% on a year-over-year basis. As a group, analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insider Activity

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $177.33, for a total value of $44,332,500.00. Following the transaction, the director owned 6,933,280 shares of the company’s stock, valued at approximately $1,229,478,542.40. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 200,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $187.82, for a total transaction of $37,564,000.00. Following the completion of the transaction, the executive vice president directly owned 3,818,547 shares of the company’s stock, valued at approximately $717,199,497.54. The trade was a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,809,114 shares of company stock worth $330,707,331. Corporate insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Harbor Asset Planning Inc. bought a new stake in shares of NVIDIA during the second quarter worth approximately $28,000. Winnow Wealth LLC bought a new stake in NVIDIA in the 2nd quarter valued at about $32,000. Longfellow Investment Management Co. LLC grew its position in shares of NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of NVIDIA during the second quarter worth approximately $40,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of NVIDIA during the third quarter worth approximately $50,000. Institutional investors own 65.27% of the company’s stock.

More NVIDIA News

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About NVIDIA

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NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

Further Reading

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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