NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Bank of America Analyst Says

NVIDIA (NASDAQ:NVDA) had its target price boosted by equities researchers at Bank of America from $190.00 to $200.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Bank of America‘s price objective would suggest a potential upside of 52.35% from the stock’s current price.

Other analysts have also issued research reports about the stock. HSBC cut their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays lifted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Tuesday, January 7th. Finally, DA Davidson lifted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.70.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $131.28 on Thursday. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.22 trillion, a P/E ratio of 51.66, a P/E/G ratio of 1.76 and a beta of 1.62. The company’s 50 day moving average price is $134.60 and its two-hundred day moving average price is $131.89.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’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 directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XY Planning Network Inc. purchased a new position in NVIDIA in the fourth quarter valued at about $1,679,000. HWG Holdings LP lifted its stake in shares of NVIDIA by 45.1% during the 4th quarter. HWG Holdings LP now owns 89,672 shares of the computer hardware maker’s stock valued at $12,042,000 after buying an additional 27,852 shares in the last quarter. LifeWealth Investments LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $3,182,000. Capital A Wealth Management LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $1,226,000. Finally, Financial Advisory Corp purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $371,000. 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.