NVIDIA (NASDAQ:NVDA) PT Raised to $1,260.00

NVIDIA (NASDAQ:NVDA) had its price objective raised by research analysts at Citigroup from $1,030.00 to $1,260.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s target price would suggest a potential upside of 18.34% from the stock’s current price.

A number of other equities analysts have also recently issued reports on NVDA. Craig Hallum increased their target price on NVIDIA from $850.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group boosted their target price on NVIDIA from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Thursday. DA Davidson boosted their price objective on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company raised their target price on shares of NVIDIA from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,123.49.

NVIDIA Price Performance

Shares of NVDA stock opened at $1,064.69 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 3.53. NVIDIA has a 52-week low of $366.35 and a 52-week high of $1,064.75. The stock has a market cap of $2.62 trillion, a PE ratio of 62.26, a PEG ratio of 1.45 and a beta of 1.75. The firm’s 50 day moving average price is $893.19 and its two-hundred day moving average price is $702.95.

NVIDIA’s stock is going to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted 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 EPS for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, analysts forecast that NVIDIA will post 23.18 EPS for the current year.

Insider Activity

In related news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction dated 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 transaction, the director now 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 is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,278 shares of company stock valued at $44,714,198. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Norges Bank bought a new stake in NVIDIA during the fourth quarter worth about $14,606,369,000. Northern Trust Corp lifted its holdings in shares of NVIDIA by 3.6% in the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares during the last quarter. International Assets Investment Management LLC boosted its holdings 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 position in 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 buying an additional 388,851 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Company Profile

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.