NVIDIA’s (NVDA) “Overweight” Rating Reiterated at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports. They currently have a $200.00 price target on the computer hardware maker’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 68.73% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Benchmark restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Wednesday. KeyCorp restated an “overweight” rating on shares of NVIDIA in a research report on Wednesday. TD Cowen upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus upped their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Up 0.9 %

NVDA opened at $118.53 on Wednesday. The firm has a 50-day simple moving average of $127.28 and a two-hundred day simple moving average of $131.03. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13. The company 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. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Analysts forecast that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,449 shares of company stock worth $11,960,727. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the fourth quarter worth $34,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $40,000. Finally, DHJJ Financial Advisors Ltd. raised 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 worth $41,000 after buying an additional 140 shares during the last quarter. 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.