NVIDIA (NASDAQ:NVDA) PT Raised to $1,350.00 at Benchmark

NVIDIA (NASDAQ:NVDA) had its target price hoisted by equities researchers at Benchmark from $1,000.00 to $1,350.00 in a research report issued on Thursday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Benchmark’s target price indicates a potential upside of 26.80% from the stock’s current price.

Other research analysts have also issued research reports about the stock. 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 report on Thursday. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $1,000.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial boosted their price target on shares of NVIDIA from $1,177.00 to $1,288.00 and gave the stock a “buy” rating in a report on Thursday. DA Davidson boosted their price objective on NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Argus boosted their price objective on NVIDIA from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $1,123.49.

NVIDIA Price Performance

NASDAQ:NVDA opened at $1,064.69 on Thursday. NVIDIA has a 52 week low of $366.35 and a 52 week high of $1,064.75. The firm has a market cap 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. The firm’s 50-day simple moving average is $893.19 and its 200 day simple moving average is $702.95. 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’s stock is scheduled 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 issued to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share 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 company had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. During the same period last year, the company posted $0.88 EPS. The firm’s quarterly revenue was up 262.1% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA will post 23.18 earnings per share for the current year.

Insider Activity

In other 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 transaction of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 128 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, 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. Insiders sold 51,278 shares of company stock worth $44,714,198 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVDA. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter worth approximately $27,000. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP purchased a new position in shares of NVIDIA in the 3rd quarter worth approximately $30,000. 65.27% of the stock is 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.