NVIDIA (NASDAQ:NVDA) PT Raised to $1,200.00 at Raymond James

NVIDIA (NASDAQ:NVDA) had its target price boosted by investment analysts at Raymond James from $1,100.00 to $1,200.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a “strong-buy” rating on the computer hardware maker’s stock. Raymond James’ price target points to a potential upside of 12.71% from the stock’s current price.

Several other research firms have also weighed in on NVDA. Susquehanna raised their price objective on NVIDIA from $1,050.00 to $1,100.00 and gave the company a “positive” rating in a research note on Monday, May 20th. Mizuho raised their price objective on NVIDIA from $1,000.00 to $1,180.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird raised their target price 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. Stifel Nicolaus lifted their target price on NVIDIA from $910.00 to $1,085.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Finally, Wedbush reiterated an “outperform” rating and set a $1,000.00 price target on shares of NVIDIA in a report on Thursday, May 16th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,123.49.

NVIDIA Stock Performance

NVIDIA stock opened at $1,064.69 on Thursday. The stock has a market capitalization of $2.62 trillion, a price-to-earnings ratio of 89.17, a P/E/G ratio of 1.45 and a beta of 1.75. NVIDIA has a 12-month low of $366.35 and a 12-month high of $1,064.75. The company has a quick ratio of 3.67, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $893.19 and a 200 day simple 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 minted shares will be payable to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating 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 firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 262.1% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Dabiri sold 128 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 51,278 shares of company stock worth $44,714,198 in the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $14,606,369,000. Northern Trust Corp raised its stake 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 holdings in NVIDIA by 54,019.5% during 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 buying an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares during the last quarter. 65.27% of the stock is owned by 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.