NVIDIA’s (NVDA) “Buy” Rating Reaffirmed at Benchmark

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a report released on Wednesday,Benzinga reports. They presently have a $190.00 price objective on the computer hardware maker’s stock. Benchmark’s target price indicates a potential upside of 64.60% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upped their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Wednesday. Bank of America increased their price target on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Evercore ISI lifted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Down 3.4 %

Shares of NVIDIA stock opened at $115.43 on Wednesday. NVIDIA has a 12-month low of $75.61 and a 12-month high of $153.13. The company’s 50-day moving average price is $128.17 and its 200-day moving average price is $131.21. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.82 trillion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, equities analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the firm’s 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 owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated 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 trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently bought and sold shares of NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter valued at about $34,000. Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at about $40,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other 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.