NVIDIA (NASDAQ:NVDA – Get Free Report) had its target price reduced by stock analysts at Morgan Stanley from $166.00 to $152.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the computer hardware maker’s stock. Morgan Stanley’s price target points to a potential upside of 20.60% from the stock’s current price.
NVDA has been the subject of a number of other reports. Rosenblatt Securities restated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, January 8th. Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.23.
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NVIDIA Stock Performance
Shares of NVDA stock traded up $7.62 during trading hours on Tuesday, hitting $126.04. The company’s stock had a trading volume of 320,200,490 shares, compared to its average volume of 259,354,047. The company has a 50 day moving average of $138.29 and a 200 day moving average of $129.45. The stock has a market cap of $3.09 trillion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA has a 12-month low of $60.70 and a 12-month high of $153.13.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA will post 2.78 EPS for the current fiscal year.
Insider Activity at NVIDIA
In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s 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 in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.
Hedge Funds Weigh In On NVIDIA
Institutional investors have recently bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA during the third quarter worth $27,000. Quest Partners LLC acquired a new position in NVIDIA in the second quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter valued at about $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the fourth quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new position in NVIDIA in the third quarter valued at about $36,000. Institutional investors own 65.27% of the company’s stock.
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.
Further Reading
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