NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00

NVIDIA (NASDAQ:NVDA) had its price target upped by analysts at Piper Sandler from $140.00 to $175.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the computer hardware maker’s stock. Piper Sandler’s target price would suggest a potential upside of 18.54% from the stock’s current price.

NVDA has been the subject of several other reports. Benchmark reissued a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. HSBC boosted their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein lifted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.17.

NVIDIA Stock Performance

NASDAQ NVDA opened at $147.63 on Monday. NVIDIA has a 1 year low of $45.01 and a 1 year high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.62 trillion, a PE ratio of 69.31, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a fifty day moving average of $127.27 and a two-hundred day moving average of $118.46.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, analysts expect that NVIDIA will post 2.66 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of hedge funds have recently made changes to their positions in NVDA. China Universal Asset Management Co. Ltd. grew its stake in NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares in the last quarter. SWS Partners raised its position in NVIDIA by 11.6% during the first quarter. SWS Partners now owns 5,968 shares of the computer hardware maker’s stock valued at $5,393,000 after acquiring an additional 620 shares in the last quarter. Norden Group LLC grew its position in NVIDIA by 23.0% in the first quarter. Norden Group LLC now owns 10,738 shares of the computer hardware maker’s stock worth $9,703,000 after acquiring an additional 2,005 shares in the last quarter. Longbow Finance SA increased its stake in shares of NVIDIA by 12.9% during the 1st quarter. Longbow Finance SA now owns 62,444 shares of the computer hardware maker’s stock worth $56,422,000 after purchasing an additional 7,158 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of NVIDIA by 6.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 33,089 shares of the computer hardware maker’s stock valued at $29,900,000 after purchasing an additional 2,070 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.