Oppenheimer Reaffirms Outperform Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $175.00 price target on the computer hardware maker’s stock. Oppenheimer’s target price would suggest a potential upside of 21.43% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Wedbush reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Rosenblatt Securities boosted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.05.

NVIDIA Stock Down 0.4%

Shares of NASDAQ NVDA opened at $144.12 on Monday. NVIDIA has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a market capitalization of $3.52 trillion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm’s 50-day moving average is $124.34 and its two-hundred day moving average is $126.49.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now directly owns 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,560,845 shares of company stock valued at $360,351,849 in the last quarter. Company insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently bought and sold shares of the stock. Tacita Capital Inc bought a new position in shares of NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter valued at about $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter valued at about $40,000. Kathleen S. Wright Associates Inc. boosted its position in shares of NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after purchasing an additional 254 shares in the last quarter. Finally, Copia Wealth Management bought a new position in shares of NVIDIA during the 4th quarter valued at about $50,000. 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.