Morgan Stanley Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,000.00

NVIDIA (NASDAQ:NVDA) had its price objective raised by Morgan Stanley from $795.00 to $1,000.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the computer hardware maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 10.36% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a $910.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. Truist Financial lifted their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Benchmark restated a “buy” rating and issued a $1,000.00 target price on shares of NVIDIA in a report on Wednesday, March 20th. DA Davidson increased their price target on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Argus boosted their price objective on NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $926.30.

NVIDIA Stock Performance

NVDA opened at $906.16 on Wednesday. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 75.89, a PEG ratio of 1.26 and a beta of 1.73. NVIDIA has a fifty-two week low of $262.20 and a fifty-two week high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The company has a fifty day moving average of $826.53 and a 200 day moving average of $604.97.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business posted $0.65 earnings per share. The business’s quarterly revenue was up 265.3% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA will post 22.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. United Bank grew its holdings in shares of NVIDIA by 28.9% during the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after buying an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares during the period. MAS Advisors LLC grew its stake in NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after purchasing an additional 583 shares during the last quarter. Navis Wealth Advisors LLC increased its holdings in shares of NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of NVIDIA in the first quarter worth about $929,000. Institutional investors and hedge funds 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.