NVIDIA (NASDAQ:NVDA) Given “Outperform” Rating at Wedbush

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They presently have a $175.00 price target on the computer hardware maker’s stock. Wedbush’s target price indicates a potential upside of 25.28% from the company’s current price.

Several other research firms have also recently weighed in on NVDA. Citigroup increased their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Raymond James increased their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Stock Performance

NVDA stock traded up $0.45 during mid-day trading on Thursday, reaching $139.68. 73,245,136 shares of the stock traded hands, compared to its average volume of 264,416,500. 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 $66.25 and a 52 week high of $153.13. The business has a 50-day moving average of $134.60 and a two-hundred day moving average of $130.84. The firm has a market capitalization of $3.42 trillion, a PE ratio of 54.97, a P/E/G ratio of 1.75 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Legal & General Group Plc increased its stake in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Ameriprise Financial Inc. increased its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. International Assets Investment Management LLC increased its stake in NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after buying an additional 55,859,917 shares during the last quarter. Finally, Clear Street Derivatives LLC acquired a new stake in NVIDIA in the 3rd quarter valued at $4,589,905,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.