NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Truist Financial Analyst Says

NVIDIA (NASDAQ:NVDA) had its price objective boosted by Truist Financial from $148.00 to $167.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Truist Financial’s price objective suggests a potential upside of 14.47% from the company’s previous close.

Several other research analysts also recently commented on NVDA. Piper Sandler raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Oppenheimer raised their target price on shares of NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Robert W. Baird raised their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC lifted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $154.63.

NVIDIA Stock Down 0.8 %

NVIDIA stock opened at $145.89 on Tuesday. The stock has a fifty day simple moving average of $133.00 and a two-hundred day simple moving average of $121.54. NVIDIA has a 12 month low of $45.01 and a 12 month high of $149.77. The firm has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.49, a PEG ratio of 1.49 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities analysts predict that NVIDIA will post 2.67 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter valued at about $27,000. Hedge funds and other 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.