Cantor Fitzgerald Reiterates “Overweight” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $200.00 price objective on the computer hardware maker’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 68.73% from the company’s current price.

NVDA has been the topic of a number of other research reports. TD Cowen raised their price target on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Bank of America restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday. Finally, KeyCorp reiterated an “overweight” rating on shares of NVIDIA in a report on Wednesday. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Up 0.9 %

Shares of NVDA stock opened at $118.53 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA has a 52-week low of $75.61 and a 52-week high of $153.13. The company has a market capitalization of $2.89 trillion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The business’s fifty day moving average is $127.28 and its 200 day moving average is $131.03.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, equities research analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,449 shares of company stock valued at $11,960,727 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. Hoertkorn Richard Charles boosted its holdings in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the period. DiNuzzo Private Wealth Inc. boosted its holdings in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after buying an additional 71 shares during the period. Smart Portfolios LLC boosted its holdings in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC boosted its holdings in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the period. Finally, Baker Boyer National Bank boosted its holdings in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after buying an additional 76 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.