Wedbush Reiterates “Outperform” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reaffirmed by Wedbush in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $175.00 target price on the computer hardware maker’s stock. Wedbush’s price objective points to a potential upside of 33.29% from the company’s current price.

NVDA has been the subject of several other research reports. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Bank of America raised their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, TD Cowen reduced their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.86.

NVIDIA Stock Performance

Shares of NVDA opened at $131.29 on Thursday. NVIDIA has a 12 month low of $86.62 and a 12 month high of $195.95. The stock has a fifty day moving average price of $113.89 and a 200-day moving average price of $126.94. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.21 trillion, a PE ratio of 51.67, a P/E/G ratio of 1.76 and a beta of 2.11.

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

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on 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 trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Large investors have recently bought and sold shares of the company. Tacita Capital Inc purchased a new stake in NVIDIA during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA during the 4th quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $46,000. 65.27% of the stock is currently owned by hedge funds and other 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.