NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00

NVIDIA (NASDAQ:NVDA) had its price objective lifted by research analysts at Oppenheimer from $150.00 to $175.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Oppenheimer’s price objective suggests a potential upside of 19.64% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Robert W. Baird boosted their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI upped their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Citigroup upped their target price on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair assumed coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Needham & Company LLC boosted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.88.

NVIDIA Price Performance

Shares of NVDA opened at $146.27 on Thursday. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77. The firm has a fifty day simple moving average of $129.39 and a two-hundred day simple moving average of $119.51. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.59 trillion, a PE ratio of 68.61, a P/E/G ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA will post 2.66 EPS for the current year.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Tuesday, September 3rd. The stock was 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last three months. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. Peterson Wealth Management lifted its position in shares of NVIDIA by 13.0% during the 3rd quarter. Peterson Wealth Management now owns 62,917 shares of the computer hardware maker’s stock valued at $7,641,000 after buying an additional 7,254 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in NVIDIA by 11.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 1,159,455 shares of the computer hardware maker’s stock valued at $140,758,000 after buying an additional 117,027 shares in the last quarter. Elite Wealth Management Inc. increased its stake in NVIDIA by 1.2% during the 3rd quarter. Elite Wealth Management Inc. now owns 461,031 shares of the computer hardware maker’s stock worth $55,988,000 after buying an additional 5,472 shares in the last quarter. Financial Counselors Inc. raised its holdings in shares of NVIDIA by 2.1% during the third quarter. Financial Counselors Inc. now owns 1,815,009 shares of the computer hardware maker’s stock valued at $220,415,000 after acquiring an additional 37,394 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new position in shares of NVIDIA in the third quarter valued at approximately $49,162,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.