Wedbush Reaffirms “Outperform” Rating for NVIDIA (NVDA)

Wedbush Reaffirms “Outperform” Rating for NVIDIA (NVDA)

NVIDIA (NASDAQ:NVDAGet Free Report)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report released on Tuesday, Benzinga reports. They presently have a $1,000.00 price target on the computer hardware maker’s stock. Wedbush’s price target points to a potential upside of 13.05% from the company’s previous close.

NVDA has been the topic of several other reports. BMO Capital Markets increased their price target on shares of NVIDIA from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. KeyCorp increased their price target on shares of NVIDIA from $740.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Benchmark increased their price target on shares of NVIDIA from $625.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Bank of America raised their target price on shares of NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Wells Fargo & Company raised their target price on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $856.27.

View Our Latest Research Report on NVIDIA

NVIDIA Trading Up 0.7 %

Shares of NVIDIA stock opened at $884.55 on Tuesday. NVIDIA has a 12-month low of $251.30 and a 12-month high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.21 trillion, a PE ratio of 74.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.73. The company has a 50-day moving average of $713.98 and a two-hundred day moving average of $550.46.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. On average, research analysts anticipate that NVIDIA will post 22.07 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the sale, the director now owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $484.62, for a total value of $218,079.00. Following the completion of the transaction, the insider now directly owns 50,961 shares of the company’s stock, valued at approximately $24,696,719.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 12,000 shares of NVIDIA stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the completion of the transaction, the director now directly owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,774 shares of company stock valued at $64,322,528. Insiders own 3.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Skyline Advisors Inc. acquired a new position in shares of NVIDIA in the 4th quarter valued at about $415,000. BlueChip Wealth Advisors LLC acquired a new position in NVIDIA during the 4th quarter valued at about $413,000. VanderPol Investments L.L.C. acquired a new position in NVIDIA during the 4th quarter valued at about $223,000. Ables Iannone Moore & Associates Inc. acquired a new position in NVIDIA during the 4th quarter valued at about $7,184,000. Finally, Leo Wealth LLC acquired a new position in NVIDIA during the 4th quarter valued at about $5,012,000. 64.79% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

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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.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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