NVIDIA’s (NVDA) Buy Rating Reaffirmed at Bank of America

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Bank of America in a research report issued on Wednesday,Benzinga reports. They currently have a $200.00 target price on the computer hardware maker’s stock. Bank of America‘s target price would suggest a potential upside of 68.73% from the stock’s current price.

Several other equities analysts also recently weighed in on NVDA. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Wednesday. Truist Financial raised their target price on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $162.00 price target (up previously from $152.00) on shares of NVIDIA in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Up 0.9 %

Shares of NVDA opened at $118.53 on Wednesday. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13. 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 company has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 46.65, a PEG ratio of 1.76 and a beta of 1.77. The stock’s 50-day moving average price is $127.28 and its 200-day moving average price is $131.03.

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%. On average, sell-side analysts predict that NVIDIA will post 2.77 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the fourth quarter worth approximately $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares in the last quarter. 65.27% of the stock is currently 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.