The Goldman Sachs Group Increases NVIDIA (NASDAQ:NVDA) Price Target to $150.00

NVIDIA (NASDAQ:NVDA) had its target price hoisted by equities researchers at The Goldman Sachs Group from $135.00 to $150.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 11.27% from the company’s current price.

Several other equities research analysts have also commented on the company. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Mizuho upped their price target on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Tigress Financial upped their price target on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Piper Sandler restated an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Stock Performance

NVIDIA stock opened at $134.81 on Friday. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. The stock has a fifty day moving average price of $117.99 and a 200 day moving average price of $110.34. NVIDIA has a 52 week low of $39.23 and a 52 week high of $140.76. 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 released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that NVIDIA will post 2.65 earnings per share for the current year.

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

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,201,270 shares of company stock worth $371,285,277. 4.23% of the stock is currently owned by company insiders.

Institutional Trading of NVIDIA

Several large investors have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC bought a new position in NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA during the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new position in NVIDIA during the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter valued at $27,000. 65.27% of the stock is currently 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.