Rosenblatt Securities Reaffirms “Buy” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $220.00 target price on the computer hardware maker’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 57.02% from the company’s current price.

Other analysts have also recently issued research reports about the company. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. 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. Melius Research lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Susquehanna increased their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC lifted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Stock Performance

Shares of NVDA opened at $140.11 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $139.89 and its two-hundred day moving average is $128.54. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA has a 52-week low of $51.69 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Analysts forecast that NVIDIA will post 2.78 EPS for the current fiscal year.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several large investors have recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the third quarter valued at $27,000. Quest Partners LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the third quarter worth approximately $36,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Company Profile

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.