NVIDIA Corporation (NASDAQ:NVDA) Stock Has Average Price Target of $318.85 According to Analysts

Shares of NVIDIA Corporation (NASDAQ:NVDA) have received an average recommendation of “Buy” from the fifty-four ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, forty-eight have given a buy rating and five have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $318.85.

NVDA has been the topic of a number of recent analyst reports. Mizuho set a $315.00 price target on shares of NVIDIA and gave the company an “outperform” rating in a report on Thursday, August 27th. Oppenheimer set a $315.00 price objective on shares of NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of NVIDIA in a research report on Monday, August 31st. KGI Securities boosted their price objective on shares of NVIDIA from $335.00 to $345.00 in a research note on Thursday, August 27th. Finally, Truist Financial boosted their price objective on NVIDIA from $307.00 to $346.00 and gave the stock a “buy” rating in a report on Thursday, August 27th.

NVIDIA News Summary

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Some investors see the decline as a buying opportunity, citing NVIDIA’s strong AI-chip position and profitability. ARK Invest also reportedly added $45.9 million of NVDA shares during the sell-off. Nvidia Stock Rises on Dip-Buying: 3 Reasons to Be Optimistic
• Positive Sentiment: CEO Jensen Huang says the next-generation Vera Rubin platform could generate more revenue per gigawatt of data-center capacity than the current platform, supporting the case for continued growth. Jensen Huang Says Nvidia’s Next-Gen Vera Rubin Chips Will Generate $40 Billion in Revenue per Gigawatt
• Neutral Sentiment: NVIDIA’s upcoming Nov. 17 results are a key near-term catalyst: investors will look for evidence that demand and guidance can ease fears about AI spending and justify the stock’s recovery. Nvidia Investors Need to Be Paying Attention on Nov. 17
• Negative Sentiment: The rebound follows a steep sell-off that wiped roughly $450 billion from NVIDIA’s market value. Investors are worried that a Democratic-led Congress, data-center permitting or regulatory hurdles, high capital costs, and uncertain returns could delay infrastructure projects and weaken future chip demand. AI stocks hammered by midterm shock as data center buildout becomes a ‘war of attrition’
• Negative Sentiment: Reports that NVIDIA may be taking on greater exposure to financially strained “neocloud” customers raise concern that it could face risks beyond selling chips if those providers struggle to fund data centers. As neoclouds face a financial reckoning, Nvidia has to decide how far to go to help

NVIDIA Trading Up 2.8%

NVIDIA stock opened at $186.64 on Wednesday. The business has a 50 day moving average price of $219.80 and a two-hundred day moving average price of $204.53. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.50 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.55 and a beta of 2.21. NVIDIA has a 12 month low of $164.27 and a 12 month high of $243.37.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion during the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The company’s revenue for the quarter was up 105.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. As a group, equities analysts forecast that NVIDIA will post 9.30 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA’s dividend payout ratio (DPR) is presently 12.64%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Monday, September 28th that allows the company to buy back $150 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total value of $7,648,787.90. Following the transaction, the chief financial officer owned 765,103 shares in the company, valued at approximately $167,595,812.15. This represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the completion of the sale, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,766,118 shares of company stock valued at $399,450,353. Corporate insiders own 3.94% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. State Street Corp increased its holdings in shares of NVIDIA by 1.6% in the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock worth $202,047,568,000 after purchasing an additional 15,897,836 shares during the period. Bank of America Corp DE increased its stake in NVIDIA by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker’s stock worth $39,090,956,000 after acquiring an additional 4,165,875 shares during the last quarter. Amundi grew its position in NVIDIA by 10.4% in the 1st quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after acquiring an additional 12,575,177 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in NVIDIA by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker’s stock valued at $16,479,126,000 after purchasing an additional 555,221 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in NVIDIA by 2.3% in the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock valued at $18,399,108,000 after purchasing an additional 2,045,101 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications.

NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.