Needham & Company LLC Reiterates “Buy” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $160.00 price target on the computer hardware maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 34.99% from the stock’s previous close.

Several other equities analysts also recently issued reports on NVDA. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Truist Financial boosted their price objective on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. The Goldman Sachs Group upped their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Up 0.9 %

NASDAQ:NVDA opened at $118.53 on Wednesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $127.28 and a 200-day moving average of $131.03. The firm has a market capitalization of $2.89 trillion, a PE ratio of 46.65, 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.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during 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%. Analysts predict that NVIDIA will post 2.77 EPS for the current year.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock worth $11,960,727 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the stock. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter valued at 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. raised its position 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. Institutional investors own 65.27% of the company’s stock.

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.