NVIDIA (NASDAQ:NVDA) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday,RTT News reports. Wedbush currently has a $175.00 target price on the computer hardware maker’s stock.

Several other equities analysts have also recently weighed in on the company. Melius Research raised their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Monday, January 27th. Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $134.35 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA has a 12-month low of $74.22 and a 12-month high of $153.13. The stock has a 50-day moving average price of $134.66 and a 200 day moving average price of $131.33. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Large investors have recently modified their holdings of the stock. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the third quarter worth about $27,000. Tacita Capital Inc bought a new position in NVIDIA in the fourth quarter worth about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the second quarter worth about $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth about $34,000. Finally, Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter worth about $38,000. Institutional investors 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.