JPMorgan Chase & Co. Raises NVIDIA (NASDAQ:NVDA) Price Target to $1,150.00

NVIDIA (NASDAQ:NVDA) had its price target boosted by JPMorgan Chase & Co. from $850.00 to $1,150.00 in a research note issued on Thursday, MarketBeat.com reports. The firm currently has an “overweight” rating on the computer hardware maker’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.01% from the stock’s current price.

A number of other equities analysts have also recently issued reports on NVDA. Mizuho lifted their target price on NVIDIA from $1,000.00 to $1,180.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James lifted their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. Loop Capital assumed coverage on NVIDIA in a research report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 target price for the company. Wolfe Research upped their price target on NVIDIA from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Truist Financial lifted their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,123.49.

NVIDIA Price Performance

NVDA stock opened at $1,064.69 on Thursday. The stock’s 50 day moving average is $893.19 and its two-hundred day moving average is $702.95. NVIDIA has a 52-week low of $366.35 and a 52-week high of $1,064.75. The company has a market capitalization of $2.62 trillion, a PE ratio of 62.26, a P/E/G ratio of 1.32 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA’s stock is going to split on the morning of Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly created shares will be issued to shareholders after the market closes on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a return on equity of 122.24% and a net margin of 53.40%. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 262.1% compared to the same quarter last year. Analysts predict that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,278 shares of company stock worth $44,714,198. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVDA. Vanguard Group Inc. grew its position in NVIDIA by 4.3% during the 1st 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 during the last quarter. Norges Bank purchased a new position in shares of NVIDIA in the 4th quarter worth about $14,606,369,000. Northern Trust Corp increased its position in shares of NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after acquiring an additional 910,009 shares in the last quarter. International Assets Investment Management LLC lifted its stake in NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after acquiring an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NVIDIA by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after buying an additional 388,851 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.