NVIDIA (NASDAQ:NVDA) PT Raised to $1,200.00 at TD Cowen

NVIDIA (NASDAQ:NVDA) had its price objective raised by equities researchers at TD Cowen from $1,100.00 to $1,200.00 in a report issued on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. TD Cowen’s target price indicates a potential upside of 26.38% from the stock’s current price.

Several other analysts have also recently commented on NVDA. Robert W. Baird raised their target price on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of NVIDIA from $970.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Truist Financial lifted their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Citigroup raised their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,044.68.

NVIDIA Stock Performance

NVIDIA stock opened at $949.50 on Thursday. The stock’s 50 day moving average is $886.29 and its 200 day moving average is $696.36. The company has a market capitalization of $2.34 trillion, a P/E ratio of 79.52, a PEG ratio of 1.33 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA has a twelve month low of $298.06 and a twelve month high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.14 by $0.98. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, equities research analysts predict that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 in the company, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth about $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. Finally, Your Advocates Ltd. LLP acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $30,000. Hedge funds and other 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.