NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, TD Cowen Analyst Says

NVIDIA (NASDAQ:NVDA) had its price objective increased by equities research analysts at TD Cowen from $165.00 to $175.00 in a report released on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. TD Cowen’s price target would suggest a potential upside of 23.28% from the company’s current price.

Other analysts have also recently issued reports about the company. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Redburn Atlantic started coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Westpark Capital boosted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Raymond James raised their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Down 3.2 %

Shares of NVIDIA stock opened at $141.95 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a fifty day simple moving average of $134.01 and a two-hundred day simple moving average of $122.06. NVIDIA has a 1 year low of $45.01 and a 1 year high of $152.89. The company has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 66.58, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. Research analysts forecast that NVIDIA will post 2.68 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter valued at $27,000. 65.27% of the stock is owned by 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.