NVIDIA (NASDAQ:NVDA) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of NVIDIA (NASDAQ:NVDA) in a research note issued to investors on Thursday morning,RTT News reports. The firm currently has a $175.00 price target on the computer hardware maker’s stock.

Several other equities analysts have also recently issued reports on the company. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased 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. Truist Financial increased their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, January 8th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Four 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

NVIDIA Price Performance

Shares of NVDA stock opened at $140.11 on Thursday. The stock’s fifty day moving average is $134.66 and its 200-day moving average is $130.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.43 trillion, a PE ratio of 55.14, a PEG ratio of 1.75 and a beta of 1.62. NVIDIA has a 52 week low of $66.25 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. Equities research analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter worth $27,000. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the 2nd quarter worth $31,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth $36,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.