Loop Capital Reaffirms Buy Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by investment analysts at Loop Capital in a report released on Wednesday,Benzinga reports. They currently have a $175.00 price target on the computer hardware maker’s stock. Loop Capital’s price target would suggest a potential upside of 19.28% from the company’s current price.

NVDA has been the subject of a number of other reports. Susquehanna increased their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Robert W. Baird lifted their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Oppenheimer raised their price objective on shares of NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Raymond James boosted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Finally, Redburn Atlantic assumed coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.82.

NVIDIA Stock Up 0.6 %

Shares of NVDA opened at $146.71 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA has a one year low of $45.01 and a one year high of $152.89. The company has a market cap of $3.60 trillion, a P/E ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. The firm has a 50 day simple moving average of $133.55 and a two-hundred day simple moving average of $121.72.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Research analysts forecast that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter valued at approximately $27,000. 65.27% of the stock is 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.