NVIDIA (NASDAQ:NVDA) PT Raised to $375.00 at KeyCorp

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price upped by KeyCorp from $320.00 to $375.00 in a research report sent to investors on Monday morning, The Fly reports. KeyCorp also issued estimates for NVIDIA’s Q1 2024 earnings at $0.61 EPS, Q2 2024 earnings at $0.80 EPS and FY2024 earnings at $3.45 EPS.

Several other equities analysts also recently commented on the stock. Robert W. Baird boosted their price target on shares of NVIDIA from $230.00 to $300.00 in a research note on Monday, March 20th. Piper Sandler lifted their target price on shares of NVIDIA from $200.00 to $225.00 and gave the stock an overweight rating in a research note on Wednesday, February 22nd. Credit Suisse Group set a $275.00 price target on shares of NVIDIA in a report on Wednesday, March 22nd. StockNews.com assumed coverage on shares of NVIDIA in a report on Thursday, May 18th. They set a hold rating on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $220.00 to $250.00 and gave the stock an overweight rating in a report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $375.13.

NVIDIA Stock Performance

Shares of NVDA opened at $379.80 on Monday. The firm has a market cap of $939.29 billion, a PE ratio of 218.28, a P/E/G ratio of 5.34 and a beta of 1.77. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $280.52 and a 200-day moving average price of $218.29. NVIDIA has a 12 month low of $108.13 and a 12 month high of $394.80.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period last year, the firm earned $1.18 EPS. The company’s quarterly revenue was down 13.2% on a year-over-year basis. Equities research analysts predict that NVIDIA will post 3.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Colette Kress sold 6,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the sale, the chief financial officer now owns 561,401 shares of the company’s stock, valued at $128,723,635.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction on Monday, March 13th. The stock was sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,084 shares of company stock worth $14,516,510. Insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its stake in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of NVIDIA during the first quarter valued at $28,000. Nordwand Advisors LLC bought a new position in shares of NVIDIA in the first quarter worth about $28,000. Riggs Asset Managment Co. Inc. raised its stake in shares of NVIDIA by 271.2% in the third quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock worth $30,000 after buying an additional 179 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in NVIDIA during the 4th quarter valued at approximately $34,000. 61.80% of the stock is currently owned by institutional investors.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.