NVIDIA (NVDA) Rating Increased to Strong-Buy at BidaskClub

NVIDIA (NASDAQ:NVDA) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued research reports about the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NVIDIA in a report on Saturday, September 23rd. SunTrust Banks reaffirmed a “buy” rating and set a $200.00 price target (up previously from $181.00) on shares of NVIDIA in a report on Monday, October 2nd. Craig Hallum reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Saturday, September 23rd. Citigroup reaffirmed a “buy” rating and set a $240.00 price target on shares of NVIDIA in a report on Friday, November 10th. Finally, Loop Capital upped their price target on shares of NVIDIA from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $192.04.

Shares of NVIDIA (NASDAQ NVDA) opened at $223.68 on Thursday. NVIDIA has a twelve month low of $95.17 and a twelve month high of $225.00. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $135,550.00, a P/E ratio of 55.92, a PEG ratio of 5.02 and a beta of 1.18.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 31.5% on a year-over-year basis. research analysts forecast that NVIDIA will post 4.19 earnings per share for the current year.

In other news, Director Persis Drell sold 606 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $197.07, for a total value of $119,424.42. Following the sale, the director now directly owns 26,104 shares of the company’s stock, valued at approximately $5,144,315.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dawn E. Hudson sold 15,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the completion of the sale, the director now directly owns 46,868 shares in the company, valued at $10,003,505.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,858 shares of company stock worth $4,227,384. Insiders own 5.17% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in NVIDIA by 5,424.4% during the second quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after acquiring an additional 4,022,728 shares in the last quarter. Vanguard Group Inc. boosted its stake in NVIDIA by 7.1% during the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock worth $5,819,579,000 after acquiring an additional 2,676,976 shares in the last quarter. Jackson Square Partners LLC bought a new position in NVIDIA during the second quarter worth $229,323,000. Renaissance Technologies LLC boosted its stake in NVIDIA by 19.3% during the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock worth $687,931,000 after acquiring an additional 768,200 shares in the last quarter. Finally, Quantitative Investment Management LLC boosted its stake in NVIDIA by 3,194.2% during the second quarter. Quantitative Investment Management LLC now owns 678,600 shares of the computer hardware maker’s stock worth $98,098,000 after acquiring an additional 658,000 shares in the last quarter. 63.41% of the stock is currently owned by institutional investors.

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NVIDIA Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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