The Goldman Sachs Group Reiterates Buy Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by stock analysts at The Goldman Sachs Group in a report released on Monday, Marketbeat Ratings reports. They currently have a $135.00 price target on the computer hardware maker’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 6.09% from the stock’s previous close.

A number of other equities analysts also recently commented on NVDA. DZ Bank downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective for the company. in a report on Friday, May 24th. Rosenblatt Securities boosted their price target on shares of NVIDIA from $140.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Loop Capital boosted their price target on shares of NVIDIA from $120.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Morgan Stanley boosted their price target on shares of NVIDIA from $116.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, July 1st. Five equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.31.

NVIDIA Stock Performance

NVIDIA stock opened at $127.25 on Monday. The company has a market cap of $3.13 trillion, a PE ratio of 74.42, a P/E/G ratio of 1.15 and a beta of 1.68. The company has a fifty day moving average price of $121.05 and a two-hundred day moving average price of $100.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76.

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

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold 4,320,723 shares of company stock worth $631,994,141 in the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently added to or reduced their stakes in NVDA. Aurora Private Wealth Inc. lifted its holdings in shares of NVIDIA by 20.4% during the fourth quarter. Aurora Private Wealth Inc. now owns 2,196 shares of the computer hardware maker’s stock worth $1,088,000 after buying an additional 372 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 9.3% during the fourth quarter. International Assets Investment Management LLC now owns 34,059 shares of the computer hardware maker’s stock worth $16,867,000 after buying an additional 2,893 shares during the last quarter. Tennessee Valley Asset Management Partners lifted its holdings in shares of NVIDIA by 1.1% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 2,476 shares of the computer hardware maker’s stock worth $1,226,000 after buying an additional 27 shares during the last quarter. Simplicity Solutions LLC lifted its holdings in shares of NVIDIA by 1.5% during the fourth quarter. Simplicity Solutions LLC now owns 70,837 shares of the computer hardware maker’s stock worth $35,080,000 after buying an additional 1,072 shares during the last quarter. Finally, Atlas Wealth Partners LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $190,000. Institutional investors own 65.27% of the company’s stock.

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.