NVIDIA (NASDAQ:NVDA) Rating Increased to Buy at New Street Research

NVIDIA (NASDAQ:NVDA) was upgraded by New Street Research from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has a $120.00 target price on the computer hardware maker’s stock. New Street Research’s price target would indicate a potential upside of 21.32% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Citigroup raised their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. UBS Group raised their price objective on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Melius Research raised their price target on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Susquehanna raised their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.31.

NVIDIA Stock Down 5.1 %

NVIDIA stock opened at $98.91 on Tuesday. NVIDIA has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The stock has a market cap of $2.43 trillion, a PE ratio of 57.84, a P/E/G ratio of 1.15 and a beta of 1.68. The stock’s fifty day moving average is $121.07 and its two-hundred day moving average is $96.75.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.10. The company had revenue of $26.04 billion for 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%. The business’s quarterly revenue was up 262.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. On average, sell-side analysts expect that NVIDIA will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dawn E. Hudson sold 150,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the completion of the sale, the director now directly owns 555,000 shares of the company’s stock, valued at approximately $58,785,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The disclosure for this sale can be found here. In the last three months, insiders sold 4,080,723 shares of company stock valued at $606,952,541. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently made changes to their positions in NVDA. Aurora Private Wealth Inc. boosted its position in NVIDIA by 20.4% during the 4th quarter. Aurora Private Wealth Inc. now owns 2,196 shares of the computer hardware maker’s stock worth $1,088,000 after purchasing an additional 372 shares during the period. Stonegate Investment Group LLC boosted its position in NVIDIA by 13.0% during the 4th quarter. Stonegate Investment Group LLC now owns 14,580 shares of the computer hardware maker’s stock worth $7,220,000 after purchasing an additional 1,675 shares during the period. Regent Peak Wealth Advisors LLC boosted its position in NVIDIA by 1.2% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 8,664 shares of the computer hardware maker’s stock worth $4,291,000 after purchasing an additional 99 shares during the period. Cahaba Wealth Management Inc. boosted its position in NVIDIA by 11.0% during the 4th quarter. Cahaba Wealth Management Inc. now owns 4,099 shares of the computer hardware maker’s stock worth $2,030,000 after purchasing an additional 406 shares during the period. Finally, Coastline Trust Co lifted its holdings in NVIDIA by 0.4% in the 4th quarter. Coastline Trust Co now owns 59,687 shares of the computer hardware maker’s stock worth $29,558,000 after buying an additional 246 shares in the last quarter. 65.27% of the stock is 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.