NVIDIA (NASDAQ:NVDA) Given New $315.00 Price Target at Citigroup

NVIDIA (NASDAQ:NVDAGet Rating) had its target price decreased by Citigroup from $350.00 to $315.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s price target points to a potential upside of 94.50% from the company’s current price.

A number of other analysts have also weighed in on NVDA. Morgan Stanley lowered their target price on NVIDIA from $217.00 to $182.00 and set an “equal weight” rating for the company in a report on Thursday. Robert W. Baird lowered NVIDIA from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $360.00 to $225.00 in a report on Monday, April 11th. Tigress Financial increased their price objective on NVIDIA from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, March 29th. Raymond James reduced their target price on NVIDIA from $365.00 to $250.00 in a research note on Thursday. Finally, Truist Financial reduced their target price on NVIDIA from $347.00 to $298.00 in a research note on Friday, April 8th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and a consensus target price of $284.91.

Shares of NASDAQ:NVDA opened at $161.95 on Thursday. NVIDIA has a 52-week low of $154.60 and a 52-week high of $346.47. The stock has a market cap of $471.72 billion, a P/E ratio of 42.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.59. The business’s 50 day moving average is $215.65 and its 200 day moving average is $252.17. The company has a quick ratio of 6.05, a current ratio of 6.65 and a debt-to-equity ratio of 0.41.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its earnings results on Wednesday, May 25th. The computer hardware maker reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.07. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.09 billion. NVIDIA had a return on equity of 42.99% and a net margin of 36.24%. NVIDIA’s revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. On average, sell-side analysts anticipate that NVIDIA will post 4.71 EPS for the current fiscal year.

In other news, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 292,340 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total transaction of $69,319,660.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 409,056 shares of company stock valued at $101,135,342. Insiders own 4.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Disciplined Investments LLC purchased a new position in NVIDIA during the fourth quarter worth about $25,000. Rather & Kittrell Inc. purchased a new position in NVIDIA during the fourth quarter worth about $26,000. Emerson Wealth LLC purchased a new position in NVIDIA during the first quarter worth about $27,000. Roble Belko & Company Inc grew its position in NVIDIA by 550.0% during the first quarter. Roble Belko & Company Inc now owns 104 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 88 shares during the period. Finally, Clear Perspectives Financial Planning LLC acquired a new position in NVIDIA during the first quarter worth about $28,000. 55.19% of the stock is owned by hedge funds and other institutional investors.

About NVIDIA (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

Featured Articles

Stock Target Advisor logo

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

Want More Great Investing Ideas?

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.