Cantor Fitzgerald Reiterates Overweight Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $200.00 price objective on the computer hardware maker’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 97.38% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Hsbc Global Res downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. TD Cowen cut their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus set a $180.00 price target on NVIDIA in a research note on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.51.

NVIDIA Price Performance

Shares of NVDA opened at $101.33 on Wednesday. The firm has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The firm’s fifty day simple moving average is $117.19 and its 200-day simple moving average is $129.89. NVIDIA has a twelve month low of $75.61 and a twelve month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last ninety days. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the company. Chicago Capital LLC raised its holdings in NVIDIA by 4.2% in the 1st quarter. Chicago Capital LLC now owns 797,933 shares of the computer hardware maker’s stock valued at $86,480,000 after acquiring an additional 32,353 shares during the last quarter. Vivid Wealth Management LLC grew its position in shares of NVIDIA by 4.5% in the first quarter. Vivid Wealth Management LLC now owns 22,245 shares of the computer hardware maker’s stock valued at $2,411,000 after purchasing an additional 960 shares during the period. Vicus Capital increased its stake in NVIDIA by 7.1% in the first quarter. Vicus Capital now owns 43,273 shares of the computer hardware maker’s stock valued at $4,690,000 after purchasing an additional 2,887 shares during the last quarter. AA Financial Advisors LLC lifted its position in NVIDIA by 13.8% during the first quarter. AA Financial Advisors LLC now owns 32,619 shares of the computer hardware maker’s stock worth $3,535,000 after buying an additional 3,954 shares during the period. Finally, Inscription Capital LLC acquired a new stake in NVIDIA in the 1st quarter worth about $837,000. 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.