Melius Research Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its target price upped by analysts at Melius Research from $165.00 to $185.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. Melius Research’s target price points to a potential upside of 27.59% from the stock’s current price.

Several other brokerages also recently issued reports on NVDA. Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. HSBC upped their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. UBS Group reissued a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Truist Financial upped their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $144.78.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $2.63 during trading on Monday, hitting $145.00. 108,734,792 shares of the stock were exchanged, compared to its average volume of 402,728,063. The company has a market cap of $3.56 trillion, a PE ratio of 68.27, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $127.27 and a two-hundred day moving average price of $118.46. NVIDIA has a 12-month low of $45.01 and a 12-month high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, analysts forecast that NVIDIA will post 2.66 EPS for the current year.

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

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was 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 directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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 approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its position in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares during the last quarter. SWS Partners increased its position in NVIDIA by 11.6% in the 1st quarter. SWS Partners now owns 5,968 shares of the computer hardware maker’s stock valued at $5,393,000 after acquiring an additional 620 shares during the period. Norden Group LLC raised its stake in NVIDIA by 23.0% during the 1st quarter. Norden Group LLC now owns 10,738 shares of the computer hardware maker’s stock valued at $9,703,000 after acquiring an additional 2,005 shares in the last quarter. Longbow Finance SA boosted its position in NVIDIA by 12.9% during the 1st quarter. Longbow Finance SA now owns 62,444 shares of the computer hardware maker’s stock worth $56,422,000 after acquiring an additional 7,158 shares during the period. Finally, J.W. Cole Advisors Inc. grew its stake in shares of NVIDIA by 6.7% in the first quarter. J.W. Cole Advisors Inc. now owns 33,089 shares of the computer hardware maker’s stock worth $29,900,000 after purchasing an additional 2,070 shares in 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.