NVIDIA (NASDAQ:NVDA) Stock Rating Reaffirmed by Oppenheimer

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating restated by stock analysts at Oppenheimer in a research note issued to investors on Thursday, Benzinga reports. They currently have a $1,100.00 price objective on the computer hardware maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 3.32% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Tigress Financial boosted their price objective on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Barclays boosted their target price on NVIDIA from $850.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Wells Fargo & Company boosted their price target on NVIDIA from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday. Cantor Fitzgerald upped their price target on NVIDIA from $1,200.00 to $1,400.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price objective on shares of NVIDIA from $910.00 to $1,085.00 and gave the company a “buy” rating in a report on Monday, May 20th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $1,123.49.

NVIDIA Trading Up 2.6 %

Shares of NVDA stock opened at $1,064.69 on Thursday. 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 company has a market capitalization of $2.62 trillion, a P/E ratio of 62.26, 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 firm has a 50-day moving average price of $893.19 and a 200 day moving average price of $702.95.

Shares of NVIDIA are scheduled 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 results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. Research analysts forecast that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the 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 transaction, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s 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 sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. 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 corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC raised its position in NVIDIA by 8.3% in the first quarter. Cetera Advisor Networks LLC now owns 339,828 shares of the computer hardware maker’s stock valued at $307,055,000 after purchasing an additional 25,930 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of NVIDIA by 107.2% in the first quarter. Cetera Advisors LLC now owns 226,867 shares of the computer hardware maker’s stock valued at $204,988,000 after buying an additional 117,384 shares during the period. Cetera Investment Advisers raised its holdings in NVIDIA by 193.7% in the 1st quarter. Cetera Investment Advisers now owns 680,591 shares of the computer hardware maker’s stock valued at $614,955,000 after buying an additional 448,841 shares during the last quarter. Invst LLC boosted its position in NVIDIA by 67.6% during the 1st quarter. Invst LLC now owns 5,032 shares of the computer hardware maker’s stock worth $4,547,000 after buying an additional 2,029 shares during the period. Finally, Dodds Wealth LLC grew its holdings in NVIDIA by 10.7% during the 1st quarter. Dodds Wealth LLC now owns 953 shares of the computer hardware maker’s stock worth $861,000 after acquiring an additional 92 shares during the last quarter. 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.