NVIDIA (NASDAQ:NVDA) PT Raised to $750.00 at Morgan Stanley

NVIDIA (NASDAQ:NVDAGet Free Report) had its price objective upped by research analysts at Morgan Stanley from $603.00 to $750.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the computer hardware maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.70% from the company’s previous close.

NVDA has been the topic of several other reports. UBS Group increased their price objective on shares of NVIDIA from $560.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Edward Jones downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 22nd. DA Davidson assumed coverage on shares of NVIDIA in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $410.00 price target on the stock. Finally, Raymond James raised their price target on shares of NVIDIA from $600.00 to $700.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $616.35.

Check Out Our Latest Analysis on NVDA

NVIDIA Stock Down 0.7 %

NASDAQ:NVDA opened at $696.41 on Wednesday. The firm has a market capitalization of $1.72 trillion, a P/E ratio of 91.87, a PEG ratio of 2.73 and a beta of 1.69. NVIDIA has a 1-year low of $204.21 and a 1-year high of $707.94. The company’s fifty day moving average price is $540.48 and its 200-day moving average price is $483.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.59 and a quick ratio of 3.06.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.99. NVIDIA had a net margin of 42.10% and a return on equity of 72.28%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $16.19 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 205.5% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA will post 11.07 EPS for the current year.

Insider Activity

In related news, Director John Dabiri sold 218 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $484.99, for a total value of $105,727.82. Following the sale, the director now directly owns 2,183 shares of the company’s stock, valued at approximately $1,058,733.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $483.18, for a total value of $4,831,800.00. Following the sale, the director now directly owns 989,831 shares of the company’s stock, valued at $478,266,542.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 218 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $484.99, for a total transaction of $105,727.82. Following the completion of the sale, the director now directly owns 2,183 shares in the company, valued at $1,058,733.17. The disclosure for this sale can be found here. Insiders sold 155,216 shares of company stock worth $79,810,950 in the last 90 days. 3.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC raised its holdings in NVIDIA by 8.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,484 shares of the computer hardware maker’s stock valued at $4,201,000 after buying an additional 689 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in NVIDIA by 10.7% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 9,009 shares of the computer hardware maker’s stock valued at $4,462,000 after buying an additional 874 shares during the period. NDVR Inc. purchased a new position in NVIDIA in the fourth quarter valued at approximately $624,000. AMG National Trust Bank raised its holdings in NVIDIA by 1.5% in the fourth quarter. AMG National Trust Bank now owns 11,195 shares of the computer hardware maker’s stock valued at $5,544,000 after buying an additional 166 shares during the period. Finally, Glaxis Capital Management LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $347,000. 64.79% of the stock is owned by institutional investors and hedge funds.

NVIDIA Company Profile

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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.

Further Reading

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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