NVIDIA’s (NVDA) Outperform Rating Reiterated at Wedbush

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They presently have a $175.00 price target on the computer hardware maker’s stock. Wedbush’s price target suggests a potential upside of 25.28% from the company’s current price.

Other equities analysts have also issued reports about the company. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Piper Sandler boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Stock Up 0.3 %

NVIDIA stock traded up $0.45 during midday trading on Thursday, hitting $139.68. The stock had a trading volume of 73,245,136 shares, compared to its average volume of 264,416,500. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.42 trillion, a P/E ratio of 54.97, a P/E/G ratio of 1.75 and a beta of 1.62. NVIDIA has a 12 month low of $66.25 and a 12 month high of $153.13. The business has a fifty day moving average price of $134.60 and a 200 day moving average price of $130.84.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. Research analysts predict that NVIDIA will post 2.77 EPS for the current year.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last three months. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. Norges Bank bought a new stake in NVIDIA in the fourth quarter worth $43,515,504,000. Legal & General Group Plc boosted its holdings in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in NVIDIA by 12,898.6% in the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after purchasing an additional 55,859,917 shares in the last quarter. Finally, Clear Street Derivatives LLC bought a new stake in NVIDIA in the third quarter worth $4,589,905,000. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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.