NVIDIA (NASDAQ:NVDA) Shares Gap Up Following Analyst Upgrade

NVIDIA Co. (NASDAQ:NVDA)’s share price gapped up before the market opened on Thursday after TD Cowen raised their price target on the stock from $140.00 to $175.00. The stock had previously closed at $134.81, but opened at $142.25. TD Cowen currently has a buy rating on the stock. NVIDIA shares last traded at $141.43, with a volume of 70,927,000 shares traded.

A number of other research firms have also recently commented on NVDA. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Bank of America boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.71.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last ninety days. 4.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently modified their holdings of NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the fourth quarter worth $40,000. Kathleen S. Wright Associates Inc. lifted its position in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after purchasing an additional 254 shares during the last quarter. Finally, Copia Wealth Management bought a new stake in shares of NVIDIA in the fourth quarter valued at about $50,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

The stock’s fifty day simple moving average is $114.85 and its 200 day simple moving average is $126.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.44 trillion, a P/E ratio of 55.71, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

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.