Wells Fargo & Co Increases NVIDIA (NASDAQ:NVDA) Price Target to $240.00

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by equities researchers at Wells Fargo & Co from $220.00 to $240.00 in a note issued to investors on Friday, The Fly reports. The firm presently has an “outperform” rating on the computer hardware maker’s stock. Wells Fargo & Co‘s target price points to a potential upside of 15.33% from the company’s previous close.

Several other equities research analysts have also recently issued reports on NVDA. Citigroup lifted their price objective on shares of NVIDIA from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. Susquehanna Bancshares lifted their price objective on shares of NVIDIA from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Piper Jaffray Companies lifted their price objective on shares of NVIDIA from $200.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday. Nomura reaffirmed a “hold” rating on shares of NVIDIA in a research report on Friday, August 23rd. Finally, UBS Group lifted their price objective on shares of NVIDIA from $195.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $216.69.

Shares of NVIDIA stock traded down $4.18 during trading on Friday, hitting $208.10. 661,301 shares of the stock were exchanged, compared to its average volume of 8,276,448. The stock has a market cap of $124.96 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 5.25 and a beta of 2.06. The firm’s 50-day moving average price is $195.53 and its 200 day moving average price is $170.83. NVIDIA has a 12-month low of $124.46 and a 12-month high of $213.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.42 and a quick ratio of 7.71.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.21. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.92 billion. NVIDIA had a net margin of 24.08% and a return on equity of 22.02%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 EPS. As a group, research analysts forecast that NVIDIA will post 4.07 earnings per share for the current year.

In other news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the sale, the director now directly owns 36,037 shares of the company’s stock, valued at $6,188,634.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 31,357 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $179.01, for a total transaction of $5,613,216.57. The disclosure for this sale can be found here. Insiders sold 63,883 shares of company stock valued at $11,206,817 over the last ninety days. Corporate insiders own 4.64% of the company’s stock.

Several large investors have recently made changes to their positions in NVDA. Pacific Center for Financial Services raised its holdings in shares of NVIDIA by 143.1% in the second quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. LLBH Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the second quarter valued at about $27,000. Marquette Asset Management LLC raised its holdings in shares of NVIDIA by 416.7% in the third quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Field & Main Bank acquired a new position in shares of NVIDIA during the second quarter worth about $33,000. Finally, Investors Research Corp increased its stake in shares of NVIDIA by 313.0% during the third quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 144 shares during the period. 64.56% of the stock is owned by institutional investors and hedge funds.

NVIDIA Company Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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