Susquehanna Reaffirms Positive Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “positive” rating reaffirmed by stock analysts at Susquehanna in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $180.00 target price on the computer hardware maker’s stock. Susquehanna’s target price would suggest a potential upside of 51.86% from the stock’s current price.

Several other equities research analysts also recently commented on NVDA. Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. HSBC reduced their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. DA Davidson reiterated a “neutral” rating and set a $135.00 price target on shares of NVIDIA in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Trading Up 0.9 %

Shares of NVIDIA stock opened at $118.53 on Wednesday. The firm 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 company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s fifty day moving average price is $127.28 and its two-hundred day moving average price is $131.03. NVIDIA has a 52-week low of $75.61 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, analysts expect that NVIDIA will post 2.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Large investors have recently bought and sold shares of the company. Palisade Asset Management LLC boosted its position in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the last quarter. SMART Wealth LLC boosted its position in NVIDIA by 289.5% during the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after acquiring an additional 53,747 shares during the last quarter. Blue Square Asset Management LLC boosted its position in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Narwhal Capital Management boosted its position in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after acquiring an additional 26,373 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. boosted its position in NVIDIA by 46.7% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after acquiring an additional 5,360 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.