NVIDIA (NASDAQ:NVDA) Price Target Raised to $170.00

NVIDIA (NASDAQ:NVDA) had its price target raised by research analysts at Raymond James from $140.00 to $170.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the computer hardware maker’s stock. Raymond James’ target price would indicate a potential upside of 16.22% from the company’s current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Piper Sandler increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI upped their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, UBS Group raised their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.88.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $146.27 on Thursday. The business has a 50-day moving average price of $129.39 and a two-hundred day moving average price of $119.51. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77. 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 market cap of $3.59 trillion, a P/E ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. As a group, analysts anticipate that NVIDIA will post 2.66 EPS for the current year.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 over the last quarter. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. lifted its stake in NVIDIA by 52.2% in the first 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. Crown Wealth Group LLC increased its holdings in shares of NVIDIA by 28.7% in the first quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock worth $3,240,000 after buying an additional 800 shares during the period. Harbor Advisors LLC lifted its stake in shares of NVIDIA by 3.4% in the 1st quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock valued at $16,264,000 after acquiring an additional 600 shares during the last quarter. Presilium Private Wealth LLC purchased a new stake in NVIDIA during the 1st quarter valued at about $201,000. Finally, Better Money Decisions LLC grew its position in NVIDIA by 4.8% during the 1st quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock worth $657,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.