NVIDIA (NASDAQ:NVDA) Price Target Raised to $175.00 at Barclays

NVIDIA (NASDAQ:NVDA) had its target price upped by research analysts at Barclays from $160.00 to $175.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the computer hardware maker’s stock. Barclays‘s price objective indicates a potential upside of 31.02% from the stock’s current price.

A number of other research analysts have also recently commented on NVDA. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, January 8th. Stifel Nicolaus increased their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $133.57 on Friday. The stock’s 50-day simple moving average is $139.49 and its two-hundred day simple moving average is $128.87. NVIDIA has a twelve month low of $54.74 and a twelve month high of $153.13. The firm has a market capitalization of $3.27 trillion, a P/E ratio of 52.57, a P/E/G ratio of 2.45 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, equities analysts anticipate that NVIDIA will post 2.78 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in NVDA. Hoertkorn Richard Charles raised its stake in shares of NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC increased its holdings in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares in the last quarter. Palisade Asset Management LLC raised its position in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the last quarter. Kwmg LLC lifted its stake in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after acquiring an additional 77 shares during the period. Finally, Total Wealth Planning LLC boosted its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after acquiring an additional 78 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.