Citigroup Boosts NVIDIA (NASDAQ:NVDA) Price Target to $305.00

NVIDIA (NASDAQ:NVDA – Get Rating) had its price objective lifted by equities research analysts at Citigroup from $245.00 to $305.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s target price indicates a potential upside of 18.56% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Truist Financial increased their target price on NVIDIA from $238.00 to $266.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Robert W. Baird raised their price objective on NVIDIA from $150.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Cowen raised their price objective on NVIDIA from $200.00 to $220.00 in a research note on Monday, December 12th. Jefferies Financial Group raised their price objective on NVIDIA from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Finally, StockNews.com initiated coverage on NVIDIA in a research note on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.32.

NVIDIA Stock Performance

Shares of NVDA stock opened at $257.25 on Friday. The company has a market cap of $635.41 billion, a price-to-earnings ratio of 147.84, a price-to-earnings-growth ratio of 4.30 and a beta of 1.76. The stock has a 50 day simple moving average of $210.84 and a 200-day simple moving average of $167.00. NVIDIA has a 12-month low of $108.13 and a 12-month high of $289.46. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.02 billion. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. On average, equities analysts forecast that NVIDIA will post 3.21 EPS for the current year.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 10,741 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the transaction, the chief financial officer now owns 536,960 shares in the company, valued at $107,392,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mark L. Perry sold 20,000 shares of NVIDIA stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the sale, the director now directly owns 140,000 shares of the company’s stock, valued at $33,091,800. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 10,741 shares of NVIDIA stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $200.00, for a total value of $2,148,200.00. Following the sale, the chief financial officer now directly owns 536,960 shares in the company, valued at $107,392,000. The disclosure for this sale can be found here. Insiders have sold a total of 293,066 shares of company stock worth $51,229,679 over the last quarter. 4.04% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AdvisorNet Financial Inc increased its holdings in NVIDIA by 3.8% in the third quarter. AdvisorNet Financial Inc now owns 21,362 shares of the computer hardware maker’s stock valued at $2,593,000 after buying an additional 781 shares during the last quarter. Rede Wealth LLC boosted its stake in NVIDIA by 3.9% in the third quarter. Rede Wealth LLC now owns 2,656 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 100 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in NVIDIA by 34.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 6,140 shares of the computer hardware maker’s stock valued at $745,000 after acquiring an additional 1,570 shares during the period. EP Wealth Advisors LLC boosted its stake in NVIDIA by 65.8% in the third quarter. EP Wealth Advisors LLC now owns 45,478 shares of the computer hardware maker’s stock valued at $5,521,000 after acquiring an additional 18,044 shares during the period. Finally, Centerpoint Advisors LLC boosted its stake in NVIDIA by 66.6% in the third quarter. Centerpoint Advisors LLC now owns 3,940 shares of the computer hardware maker’s stock valued at $478,000 after acquiring an additional 1,575 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.