NVIDIA (NASDAQ:NVDA) Given New $1,200.00 Price Target at The Goldman Sachs Group

NVIDIA (NASDAQ:NVDA) had its target price increased by stock analysts at The Goldman Sachs Group from $1,100.00 to $1,200.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 26.38% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Sanford C. Bernstein upped their target price on NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Loop Capital assumed coverage on NVIDIA in a research report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 price target on the stock. Stifel Nicolaus upped their price target on NVIDIA from $910.00 to $1,085.00 and gave the company a “buy” rating in a research report on Monday. DA Davidson upped their price target on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Finally, Tigress Financial upped their price target on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,044.68.

NVIDIA Price Performance

NVIDIA stock opened at $949.50 on Thursday. NVIDIA has a 52 week low of $298.06 and a 52 week high of $974.00. The stock has a fifty day moving average of $886.29 and a 200-day moving average of $696.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.34 trillion, a P/E ratio of 79.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $26.04 billion during the quarter, compared to analysts’ expectations of $24.59 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 262.1% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last 90 days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently modified their holdings of the company. Burney Co. grew its position in NVIDIA by 4.6% during the 1st quarter. Burney Co. now owns 27,939 shares of the computer hardware maker’s stock worth $25,245,000 after acquiring an additional 1,228 shares during the last quarter. Cedar Point Capital Partners LLC grew its position in NVIDIA by 6.0% during the 1st quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 28 shares during the last quarter. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter worth approximately $27,000. Second Line Capital LLC grew its position in NVIDIA by 11.5% during the 1st quarter. Second Line Capital LLC now owns 2,014 shares of the computer hardware maker’s stock worth $1,820,000 after acquiring an additional 208 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $3,922,733,000. 65.27% of the stock is currently owned by institutional investors.

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.