NVIDIA (NASDAQ:NVDA) Given New $190.00 Price Target at Citigroup

NVIDIA (NASDAQ:NVDA) had its target price lifted by stock analysts at Citigroup from $180.00 to $190.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s price target would suggest a potential upside of 20.00% from the stock’s previous close.

A number of other research firms have also recently commented on NVDA. Barclays lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Piper Sandler restated an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Mizuho increased their price target on shares of NVIDIA from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $176.47.

NVIDIA Trading Down 0.6%

Shares of NVDA traded down $1.01 during midday trading on Monday, hitting $158.33. The stock had a trading volume of 105,232,564 shares, compared to its average volume of 267,722,362. NVIDIA has a 1 year low of $86.62 and a 1 year high of $160.98. The firm has a market cap of $3.86 trillion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock’s 50 day moving average is $136.38 and its 200 day moving average is $127.81.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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). The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. As a group, analysts forecast that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, Director A Brooke Seawell sold 51,740 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company’s stock, valued at $243,790,745.58. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the transaction, the chief executive officer directly owned 75,323,225 shares in the company, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last three months. Insiders own 4.17% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds have recently added to or reduced their stakes in the business. Osprey Private Wealth LLC lifted its position in shares of NVIDIA by 2.7% during the 2nd quarter. Osprey Private Wealth LLC now owns 84,655 shares of the computer hardware maker’s stock worth $13,489,000 after buying an additional 2,225 shares during the period. Somerset Trust Co increased its stake in NVIDIA by 5.1% in the second quarter. Somerset Trust Co now owns 7,806 shares of the computer hardware maker’s stock valued at $1,233,000 after purchasing an additional 377 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of NVIDIA by 11.9% in the second quarter. Versant Capital Management Inc now owns 67,440 shares of the computer hardware maker’s stock valued at $10,655,000 after buying an additional 7,161 shares during the period. First Citizens Financial Corp boosted its holdings in NVIDIA by 23.6% during the second quarter. First Citizens Financial Corp now owns 8,744 shares of the computer hardware maker’s stock worth $1,381,000 after purchasing an additional 1,672 shares during the last quarter. Finally, Modus Advisors LLC raised its position in NVIDIA by 1.5% during the second quarter. Modus Advisors LLC now owns 59,472 shares of the computer hardware maker’s stock worth $9,396,000 after acquiring an additional 901 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.