NVIDIA (NASDAQ:NVDA) Given New $175.00 Price Target at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA) had its target price lifted by analysts at Cantor Fitzgerald from $140.00 to $175.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the computer hardware maker’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 38.18% from the stock’s current price.

NVDA has been the subject of several other reports. Bank of America increased their price objective on NVIDIA from $132.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 3rd. CICC Research started coverage on NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $87.00 price objective for the company. Wolfe Research increased their price objective on NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Jefferies Financial Group increased their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays reduced their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.53.

NVIDIA Stock Performance

Shares of NVDA stock traded up $0.56 during trading on Wednesday, hitting $126.65. The company’s stock had a trading volume of 94,546,922 shares, compared to its average volume of 485,749,813. The company has a market cap of $3.12 trillion, a PE ratio of 74.06, a P/E/G ratio of 1.33 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $103.66 and a 200-day moving average of $82.10. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that NVIDIA will post 2.52 earnings per share for the current year.

Insider Activity

In other news, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dawn E. Hudson sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $105.92, for a total value of $15,888,000.00. Following the completion of the transaction, the director now directly owns 555,000 shares in the company, valued at approximately $58,785,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,636,590 shares of company stock worth $292,708,454. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. Vanguard Group Inc. grew its position in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Norges Bank bought a new stake in NVIDIA in the 4th quarter worth approximately $14,606,369,000. International Assets Investment Management LLC grew its position in NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Charles Schwab Investment Management Inc. grew its position in NVIDIA by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after purchasing an additional 388,851 shares during the period. Finally, Capital World Investors grew its position in NVIDIA by 15.2% in the 4th quarter. Capital World Investors now owns 11,516,395 shares of the computer hardware maker’s stock worth $5,703,149,000 after purchasing an additional 1,523,718 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.