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

NVIDIA (NASDAQ:NVDA) had its price objective boosted by analysts at TD Cowen from $165.00 to $175.00 in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. TD Cowen’s target price would suggest a potential upside of 23.28% from the stock’s previous close.

NVDA has been the subject of a number of other reports. Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday. Finally, Bank of America upped their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NVDA opened at $141.95 on Thursday. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.58, a PEG ratio of 1.54 and a beta of 1.66. The company’s fifty day moving average price is $134.01 and its two-hundred day moving average price is $122.06. NVIDIA has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. On average, analysts expect that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the first quarter worth approximately $27,000. Hedge funds and other 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.