NVIDIA (NASDAQ:NVDA) Earns “Buy” Rating from Needham & Company LLC

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $240.00 target price on the computer hardware maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 34.17% from the stock’s current price.

A number of other brokerages have also commented on NVDA. Truist Financial lifted their price objective on NVIDIA from $210.00 to $228.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Jefferies Financial Group lifted their price target on shares of NVIDIA from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Rosenblatt Securities increased their price objective on shares of NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a report on Thursday. Susquehanna raised their price objective on shares of NVIDIA from $210.00 to $230.00 and gave the company a “positive” rating in a research note on Thursday, November 13th. Finally, KeyCorp upped their target price on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $257.79.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $178.88 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60. The firm has a 50 day simple moving average of $186.46 and a 200 day simple moving average of $168.03. NVIDIA has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The firm has a market cap of $4.35 trillion, a P/E ratio of 50.96, a P/E/G ratio of 1.49 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The firm had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business’s quarterly revenue was up 62.5% compared to the same quarter last year. During the same period last year, the company earned $0.81 EPS. NVIDIA has set its Q4 2026 guidance at EPS. Sell-side analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $177.57, for a total value of $13,317,750.00. Following the completion of the transaction, the chief executive officer owned 72,248,366 shares in the company, valued at $12,829,142,350.62. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the sale, the director owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,251,577 shares of company stock worth $583,143,187. 4.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDA. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA during the 2nd quarter worth about $28,000. Winnow Wealth LLC bought a new stake in NVIDIA during the second quarter worth about $32,000. Longfellow Investment Management Co. LLC boosted its position in NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in NVIDIA in the second quarter valued at approximately $40,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds 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.