NVIDIA (NASDAQ:NVDA) Earns Buy Rating from Benchmark

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $190.00 price target on the computer hardware maker’s stock. Benchmark’s price objective suggests a potential upside of 60.30% from the stock’s current price.

NVDA has been the topic of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Wednesday. Barclays raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $118.53 on Wednesday. The firm’s 50-day moving average price is $127.28 and its 200-day moving average price is $131.03. NVIDIA has a 52-week low of $75.61 and a 52-week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.89 trillion, a PE ratio of 46.65, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. As a group, analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were 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 directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of NVIDIA 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 directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock valued at $11,960,727 over the last three months. 4.23% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp lifted its position in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by 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.