NVIDIA (NASDAQ:NVDA) Shares Up 2.6% – Should You Buy?

NVIDIA Co. (NASDAQ:NVDA) traded up 2.6% during mid-day trading on Monday . The stock traded as high as $139.25 and last traded at $138.85. 194,776,546 shares were traded during trading, a decline of 33% from the average session volume of 291,045,696 shares. The stock had previously closed at $135.29.

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus boosted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Finally, Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and boosted their price objective for the company from $170.00 to $220.00 in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Trading Down 0.1 %

The firm’s 50-day simple moving average is $134.60 and its 200 day simple moving average is $130.78. The stock has a market capitalization of $3.41 trillion, a P/E ratio of 54.79, a PEG ratio of 1.75 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter valued at about $27,000. Tacita Capital Inc acquired a new stake in NVIDIA during the fourth quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the second quarter valued at $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter worth about $34,000. Finally, West Financial Advisors LLC bought a new stake in NVIDIA during the third quarter worth about $36,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.