NVIDIA (NASDAQ:NVDA) Earns “Buy” Rating from Needham & Company LLC

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $160.00 price target on the computer hardware maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 38.61% from the company’s current price.

A number of other brokerages have also issued reports on NVDA. HSBC lowered their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Truist Financial lifted their price target on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Thursday, February 27th. Finally, TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Down 3.4 %

NVIDIA stock opened at $115.43 on Wednesday. The firm has a market cap of $2.82 trillion, a price-to-earnings ratio of 45.43, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13. The business’s 50-day moving average price is $128.17 and its 200 day moving average price is $131.21. 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 (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, sell-side analysts anticipate that NVIDIA will post 2.77 earnings per share for the current year.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This trade represents a 13.35 % 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, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,449 shares of company stock worth $11,960,727. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the business. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the fourth quarter worth about $40,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in 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 purchasing an additional 140 shares in the last quarter. 65.27% of the stock is 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.