Raymond James Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its target price boosted by equities research analysts at Raymond James from $140.00 to $170.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the computer hardware maker’s stock. Raymond James’ price target suggests a potential upside of 16.22% from the stock’s current price.

Several other research analysts have also commented on NVDA. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Sanford C. Bernstein increased their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday. They set a “buy” rating and a $178.00 price objective on the stock. Citigroup increased their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.88.

NVIDIA Stock Performance

NVIDIA stock opened at $146.27 on Thursday. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77. The firm has a market cap of $3.59 trillion, a P/E ratio of 68.61, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $129.39 and a 200-day moving average of $119.51.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. Sell-side analysts expect that NVIDIA will post 2.66 EPS for the current year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently bought and sold shares of NVDA. China Universal Asset Management Co. Ltd. lifted its position in shares of NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after buying an additional 13,135 shares in the last quarter. Crown Wealth Group LLC raised its holdings in shares of NVIDIA by 28.7% during the 1st quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock worth $3,240,000 after acquiring an additional 800 shares in the last quarter. Harbor Advisors LLC raised its holdings in shares of NVIDIA by 3.4% during the 1st quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock worth $16,264,000 after acquiring an additional 600 shares in the last quarter. Presilium Private Wealth LLC purchased a new position in shares of NVIDIA in the first quarter valued at $201,000. Finally, Better Money Decisions LLC raised its stake in NVIDIA by 4.8% during the first quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock valued at $657,000 after purchasing an additional 33 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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.