Citigroup Increases NVIDIA (NASDAQ:NVDA) Price Target to $150.00

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by analysts at Citigroup from $126.00 to $150.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s price objective indicates a potential upside of 18.96% from the company’s current price.

A number of other research analysts have also recently issued reports on NVDA. CICC Research initiated coverage on NVIDIA in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $87.00 target price on the stock. Barclays lowered their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Evercore ISI boosted their target price on shares of NVIDIA from $131.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. StockNews.com cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, Piper Sandler raised their price objective on NVIDIA from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.70.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $126.09 on Wednesday. The firm has a 50 day moving average of $103.66 and a 200-day moving average of $82.10. The stock has a market capitalization of $3.10 trillion, a PE ratio of 73.74, a PEG ratio of 1.25 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. NVIDIA has a 12 month low of $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. During the same period last year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 262.1% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA will post 2.52 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,288,862 shares of the company’s stock, valued at approximately $671,632,585.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold 1,636,590 shares of company stock worth $292,708,454 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors and hedge funds have recently bought and sold shares of NVDA. Norges Bank purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $14,606,369,000. International Assets Investment Management LLC lifted its position in NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the last quarter. Vanguard Group Inc. grew its stake in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of NVIDIA in the 1st quarter worth $4,826,280,000. Finally, Swedbank AB purchased a new stake in shares of NVIDIA during the 1st quarter valued at $3,922,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.