Cantor Fitzgerald Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,400.00

NVIDIA (NASDAQ:NVDA) had its price objective boosted by stock analysts at Cantor Fitzgerald from $1,200.00 to $1,400.00 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has an “overweight” rating on the computer hardware maker’s stock. Cantor Fitzgerald’s price target points to a potential upside of 31.49% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group lifted their price target on NVIDIA from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp lifted their price target on NVIDIA from $1,200.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Thursday. HSBC lifted their price target on NVIDIA from $1,050.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Robert W. Baird lifted their price target on NVIDIA from $1,050.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. Finally, Loop Capital initiated coverage on NVIDIA in a research note on Friday, February 16th. They issued a “buy” rating and a $1,200.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $1,123.49.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $1,064.69 on Thursday. The stock has a market cap of $2.62 trillion, a PE ratio of 89.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.75. NVIDIA has a fifty-two week low of $366.35 and a fifty-two week high of $1,064.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53. The stock has a fifty day moving average of $893.19 and a 200-day moving average of $702.95.

Shares of NVIDIA are set to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping the consensus estimate of $5.14 by $0.98. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The business had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 262.1% on a year-over-year basis. Equities research analysts anticipate that NVIDIA will post 23.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,278 shares of company stock valued at $44,714,198. 4.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in NVIDIA in the fourth quarter worth about $14,606,369,000. International Assets Investment Management LLC grew its position in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. grew its position in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares in the last quarter. Global Assets Advisory LLC purchased a new position in NVIDIA in the first quarter worth about $4,826,280,000. Finally, Swedbank AB purchased a new position in NVIDIA in the first quarter worth about $3,922,733,000. Hedge funds and other 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.