NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Raymond James Analyst Says

NVIDIA (NASDAQ:NVDA) had its target price increased by equities research analysts at Raymond James from $150.00 to $165.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “strong-buy” rating on the computer hardware maker’s stock. Raymond James’ price target indicates a potential upside of 22.88% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Citigroup reissued a “buy” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Thursday. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Thursday, April 3rd. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Bank of America upped their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $171.66.

NVIDIA Stock Down 3.5%

NASDAQ:NVDA opened at $134.28 on Thursday. NVIDIA has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.28 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 1.76 and a beta of 2.11. The stock has a 50-day moving average price of $115.48 and a two-hundred day moving average price of $126.52.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue was up 69.2% on a year-over-year basis. As a group, equities analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last 90 days. Company insiders own 4.17% 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. FMR LLC increased its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its stake in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new position in shares of NVIDIA in the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 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.