Benchmark Reaffirms Buy Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a report issued on Tuesday,Benzinga reports. They presently have a $190.00 price target on the computer hardware maker’s stock. Benchmark’s target price indicates a potential upside of 35.61% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $140.11 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a one year low of $51.69 and a one year high of $153.13. The business’s 50-day moving average price is $139.74 and its two-hundred day moving average price is $128.46. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. Analysts anticipate that NVIDIA will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. University of Texas Texas AM Investment Management Co. boosted its stake in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. boosted its stake in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares during the period. Blue Square Asset Management LLC raised its position in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management lifted its stake in shares of NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.