NVIDIA (NASDAQ:NVDA) Receives Buy Rating from Rosenblatt Securities

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a note issued to 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 90.59% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Bank of America upped their target price on NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, February 27th. Finally, Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $115.43 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The stock’s 50-day simple moving average is $128.17 and its 200-day simple moving average is $131.21. The firm has a market capitalization of $2.82 trillion, a PE ratio of 45.43, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities research analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,449 shares of company stock valued at $11,960,727 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently made changes to their positions in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter worth $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the fourth quarter worth $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the fourth quarter valued at about $40,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Institutional investors 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.