Morgan Stanley Increases NVIDIA (NASDAQ:NVDA) Price Target to $144.00

NVIDIA (NASDAQ:NVDA) had its price target lifted by research analysts at Morgan Stanley from $116.00 to $144.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has an “overweight” rating on the computer hardware maker’s stock. Morgan Stanley’s target price would suggest a potential upside of 17.39% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Evercore ISI increased their target price on shares of NVIDIA from $131.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Benchmark increased their target price on shares of NVIDIA from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Susquehanna increased their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Jefferies Financial Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Piper Sandler increased their target price on shares of NVIDIA from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.34.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $122.67 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. The stock has a market capitalization of $3.02 trillion, a P/E ratio of 71.53, a PEG ratio of 1.30 and a beta of 1.68. The company has a 50 day moving average price of $107.14 and a 200 day moving average price of $84.26. NVIDIA has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Equities research analysts forecast that NVIDIA will post 2.53 EPS for the current year.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the transaction, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at approximately $9,819,329,886.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 227,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $88.00, for a total value of $19,975,319.00. Following the sale, the director now directly owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the sale, the chief executive officer now directly owns 79,974,995 shares in the company, valued at $9,819,329,886.10. The disclosure for this sale can be found here. Insiders have sold a total of 2,106,590 shares of company stock valued at $354,056,104 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Modus Advisors LLC lifted its holdings in NVIDIA by 1,029.0% in the 2nd quarter. Modus Advisors LLC now owns 54,947 shares of the computer hardware maker’s stock valued at $6,788,000 after purchasing an additional 50,080 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in NVIDIA by 846.4% in the 2nd quarter. Global Wealth Strategies & Associates now owns 9,966 shares of the computer hardware maker’s stock valued at $1,231,000 after purchasing an additional 8,913 shares in the last quarter. Marcum Wealth LLC lifted its holdings in NVIDIA by 912.2% in the 2nd quarter. Marcum Wealth LLC now owns 85,187 shares of the computer hardware maker’s stock valued at $10,524,000 after purchasing an additional 76,771 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in NVIDIA by 16.5% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 44,252 shares of the computer hardware maker’s stock valued at $5,467,000 after purchasing an additional 6,262 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in NVIDIA by 908.7% in the 2nd quarter. M&R Capital Management Inc. now owns 56,668 shares of the computer hardware maker’s stock valued at $7,001,000 after purchasing an additional 51,050 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.