Rosenblatt Securities Reiterates “Buy” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $220.00 price objective on the computer hardware maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 56.99% from the stock’s current price.

NVDA has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Tuesday. Raymond James lifted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Mizuho upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Wedbush boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four 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 data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Trading Down 6.2 %

NVDA opened at $140.14 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA has a 52 week low of $49.48 and a 52 week high of $153.13. The business’s 50 day moving average is $139.72 and its two-hundred day moving average is $128.37. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. On average, research analysts predict that NVIDIA will post 2.78 EPS for the current year.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,071,886 shares of company stock valued at $140,997,550. 4.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of NVIDIA during the second quarter valued at about $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the second quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA during the 4th quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter worth approximately $36,000. 65.27% of the stock is owned by institutional investors and hedge funds.

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.