NVIDIA (NASDAQ:NVDA) Given Buy Rating at Rosenblatt Securities

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $220.00 target price on the computer hardware maker’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 85.61% from the company’s previous close.

A number of other research analysts have also weighed in on NVDA. Morgan Stanley reissued an “overweight” rating and set a $162.00 price target (up from $152.00) on shares of NVIDIA in a research report on Wednesday, February 26th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Truist Financial lifted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Up 0.9 %

NVDA opened at $118.53 on Wednesday. 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 company’s 50-day moving average is $127.28 and its 200 day moving average is $131.03. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The firm has a market capitalization of $2.89 trillion, a P/E ratio of 46.65, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Research analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,449 shares of company stock valued at $11,960,727 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently made changes to their positions in the business. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the 4th quarter valued at $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the 4th quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the last quarter. Hedge funds and other 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.